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The American Institute of Architects’ ABI Index – a leading economic indicator of non-residential construction activity 9-12 months into the future –  remained above 50 in January, coming in at 50.9, virtually unchanged from 51.0 in December, and the first three-month string of readings above 50 since last spring.  The reading above 50 means the number of architects reporting “rising billings” outpaced the number reporting “declining billings.”

The new inquiries index remained near a four and a half year high at 61.2, while six out of the eight sub-indices posted readings above the 50 mark, indicative of billings growth.

Our full report is available to subscribers and provides further thoughts on the January ABI Index as well as the impact on steel equities.

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