- 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)