The American Institute of Architects’ Architectural Billings Index (ABI) is a leading indicator of growth in the construction industry.

Any score above 50 indicates an increase in billings relative to the previous month (and therefore an increase in construction activity) while a score below 50 indicates a decline. The most recent ABI score is 50: indicating slight growth staying unchanged.

The West region saw the ABI value at 49.6, which has not recorded a value above 50 since February 2023. The Midwest region is the only regional figure to register growth, with a value of 51.6. The residential market has cooled off with increased interest rates, with a value of 45.4, as both single and multifamily construction volume start declining.