The American Institute of Architects' monthly gauge of design activity, the Architecture Billings Index, jumped almost two full points in July to 47.9, the second-highest score in almost two years, but remains well below 50, meaning there is still a dip in work across the industry.
“It didn’t move dramatically, but I think it is kind of back on track to the trend that we were seeing back in the first months of the year,” says AIA Chief Economist Kermit Baker in an exclusive interview with The Zweig Letter.
Nevertheless, Baker says, a recovery isn’t looking as solidly in the cards as the pundits predicted earlier in the year. He expressed frustration with the up-and-down nature of the economic recovery, saying that none of his predictions of sustained recovery in the second half of 2010 have materialized.
When do you think the ABI will break 50 again? Were you predicting it would happen by now too?