Rebound for U.S. Architecture Billings

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Architecture billings in the U.S. increased in January, after consecutive months of decreases, according to the American Institute of Architects. 

The billing index reached 50.4 in January, after falling to 48.5 in December. The December decrease marked the first two-month decline since mid-2012. 

Any score higher than 50 indicates an increase in architecture billings, providing a barometer for construction spending. 

"There is enough optimism in the marketplace that business conditions should return to steady growth as the year progresses," AIA chief economist Kermit Baker, said in the report. "The suspension of the debt ceiling should ease some anxiety around projects for the federal government, at least for the time being. However, private sector spending should lead the construction upturn this year, which will depend more on employment growth and continued improvement in the overall economy."

The new projects inquiry index was 58.5, down slightly from the reading of 59.2 the previous month. 

The highest index reading was recorded in the South (53.5), followed by the West (51.1), Midwest (46.5) and the Northeast (43.6).

By sector, multi-family residential had the highest reading (51.8), followed by commercial/industrial (50.9), mixed practice (48.4) and institutional (46.5).