- According to AIA or American Institute of Architects, August report shows that the Architecture Billings Index (or ABI) score for August rose to 53.3 compared to 51.0 in July.
- This marks the 19th consecutive month of expansion and highest level since May 2022.
- Bifurcating regional averages (taking a three-month average): South 52.9 vs. same; Midwest 51.4 vs. 52.3; West 50.2 vs. 51.6; Northeast 49.8 vs. 49.5.
- Sector index breakdown (taking a three-month average): multi-family residential 52.0 vs. 51.6; institutional 52.0; commercial/industrial 51.2 vs. 51.9 in July; mixed practice 51.2.
- Score of 50 or above indicates an increase in billings, AIA states that the index has a correlation with nonresidential construction spending 9-12 months into the future.
- Stock to look at: Allegion ( ALLE ); Acuity Brands ( AYI ); The AZEK Company; Carrier Global ( CARR ); Carlisle Companies ( CSL ); Masonite International ( DOOR ); Griffon ( GFF ); Johnson Controls International ( JCI ); Lennox International ( LII ); Mohawk Industries ( MHK ); Stanley Black and Decker ( SWK ); Tecnoglass ( TGLS ); Trex Company ( NYSE: TREX ); Trane Technologies ( NYSE: TT )
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August sees sequential increase in Architectural Billings Index, expansionary mode for the 19th consecutive month