Finally some good news in our market! The AIA's Architecture Billing Index (ABI) is a leading indicator that I track. It's measure of the change in monthly billings from architects across the U.S. Until last month, it has been below 50 since January 2008 - which means architects' billings have been shrinking every month since then.
The index inched abov 50, to 50.4, in September. Have we found the "bottom" in the construction industry? I hope so! A related index, one that measures architectural inquiries, has been on the rise since last spring, and last month hit 62.3, it's highest mark in three years. So for us optimists, there is reason to believe!
Here at Hussey Seating, we have certainly felt the impact of the contraction of the education and sports facility construction. But we have a solid backlog, are positioned well for the recovery, and are actually seeing a nice increase in project approvals looking for seating. I know there is a pent-up demand, and as funds get released we intend to be right there.