Billings at architecture firms across the country continue to increase. As a leading economic indicator of construction activity, the Architecture Billings Index (ABI) reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the November ABI score was 53.2, up from the mark of 52.8 in October. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.6, up slightly from the 59.4 mark of the previous month.
“These are the strongest business conditions we have seen since the end of 2007 before the construction market collapse,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “The real question now is if the federal budget situation gets cleared up which will likely lead to the green lighting of numerous projects currently on hold. If we do end up going off the ‘fiscal cliff’ then we can expect a significant setback for the entire design and construction industry.”
Other key November ABI highlights:
- Regional averages: Northeast (56.3), Midwest (54.4), South (51.1), West (49.6)
- Sector index breakdown: multi-family residential (55.9), mixed practice (53.9), commercial / industrial (52.0), institutional (50.5)
- Project inquiries index: 59.6
The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers. +
Related Stories
Sponsored | Building Team | Feb 17, 2015
Why diversity matters
Companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians.
Multifamily Housing | Feb 17, 2015
Young Millennials likely to return home
Ninety percent of individuals born between 1980 and 1984 and who hold a Bachelor’s degree left home before they were 27 years hold. However, half of this group later returned to their parents’ home, according to a study by the National Longitudinal Study of Youth.
Sponsored | Modular Building | Feb 17, 2015
When lava flow in Hawaii threatens a public school district, officials turn to modular
Hawaii Modular Space, a Williams Scotsman company, designed temporary classroom space for the Pahoa and Keeau schools that would become displaced due to ongoing lava flow in Pahoa, Hawaii.
Healthcare Facilities | Feb 17, 2015
10 healthcare trends worth sharing
The rise of the medical home model of care and ongoing Lean value stream improvement are among the top healthcare industry trends.
High-rise Construction | Feb 17, 2015
Work begins on Bjarke Ingels' pixelated tower in Calgary
Construction on Calgary’s newest skyscraper, the 66-story Telus Sky Tower, recently broke ground.
Mixed-Use | Feb 13, 2015
First Look: Sacramento Planning Commission approves mixed-use tower by the new Kings arena
The project, named Downtown Plaza Tower, will have 16 stories and will include a public lobby, retail and office space, 250 hotel rooms, and residences at the top of the tower.
Architects | Feb 13, 2015
OMA commissioned to design newest New York High Line addition
Rem Koolhaas is the latest addition to the list of starchitects working on projects near the High Line elevated park.
Codes and Standards | Feb 12, 2015
ASHRAE, USGBC, IES consider biomass requirements in green building standard
The proposal would add biomass to approved renewables.
Codes and Standards | Feb 12, 2015
New Appraisal Institute form aids in analysis of green commercial building features
The Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work.
Office Buildings | Feb 12, 2015
Is Houston headed for an office glut?
More than 13 million sf could be completed this year, adding to this metro’s double-digit vacancy woes.
