ABI Jumps in December

The Architectural Billing Index (ABI) jumped nearly two points in the latest report from the American Institute of Architects. The ABI rose from 52.0 in November to 54.2 in December (any score of 50 or greater represents an increase in billings). The November rating was the previous highest score since 2007.

The ABI is a leading economic indicator of construction activity, reflecting a general nine to twelve month lag between architectural billings and construction spending.

December Regional Averages:

• Northeast: 55.3
• South: 54.8
• Midwest: 52.9
• West: 48.4

Manufacturing Index Points to Continuing Recovery

The Institute for Supply Management's (ISM) May 2010 Report on Business provided more positive economic data, indicating that the manufacturing sector grew for the 10th consecutive month.

The ISM's Purchasing Manager's Index (PMI) a widely watched economic indicator, came in at 59.7 which was above the consensus estimate of 59.0, indicating that the manufacturing engine of the economy is still running strong.

The report sited strong positive comments from multiple industries. Click (HERE) to see the complete report.