After showing struggling business conditions for most of 2011, the Architecture Billings Index (ABI) has now reached positive terrain in consecutive months. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The AIA reported the December ABI score was 52.0, following the exact same mark in November. This score reflects an overall increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 64.0, down just a point from a reading of 65.0 the previous month.
“We saw nearly identical conditions in November and December of 2010 only to see momentum sputter and billings fall into negative territory as we moved through 2011, so it’s too early to be sure that we are in a full recovery mode,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Nevertheless, this is very good news for the design and construction industry and it’s entirely possible conditions will slowly continue to improve as the year progresses.”
Key December ABI highlights include:
- Regional averages: South (54.2), Midwest (53.1), Northeast (52.6), West (45.1)
- Sector index breakdown: multi-family residential (54.3), commercial / industrial (54.1), institutional (51.3), mixed practice (44.5)
- Project inquiries index: 64.0
The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers. BD+C
Related Stories
| Aug 14, 2012
SOM Foundation announces prize recipients for 2012
Submissions for the SOM Prize were received from students at 34 schools in the U.S.
| Aug 9, 2012
Slideshow: New renderings of 1 WTC
Upon its scheduled completion in early 2014, One World Trade Center will rise 1,776 feet to the top of its spire, making it the tallest building in the Western Hemisphere.
| Aug 9, 2012
Slideshow: New renderings of 1 WTC
Upon its scheduled completion in early 2014, One World Trade Center will rise 1,776 feet to the top of its spire, making it the tallest building in the Western Hemisphere.
| Aug 8, 2012
BD+C wins six B2B journalism awards
BD+C wins two national awards, three regional awards, and a regional Graphical Excellence award.
| Aug 8, 2012
BIM’s future up in the cloud
The AEC industry is on the cusp of a still more significant evolution with cloud computing.
| Aug 8, 2012
Giants 300 Sports Facilities Report
BD+C's Giants 300 Top 25 AEC Firms in the Sports Facilities sector.
| Aug 8, 2012
Giants 300 Science & Technology Report
BD+C's Giants 300 Top 25 AEC Firms in the Science & Technology sector.
| Aug 7, 2012
Pioneering revival
Financial setbacks didn’t stop this Building Team from transforming the country’s first women’s medical school into a new home for college students.
| Aug 7, 2012
Shedding light on the arts
Renovating Pietro Belluschi’s Juilliard School opens the once-cloistered institution to its Upper West Side community.
| Aug 7, 2012
How to win more state and local government projects
With a huge building stock at their disposal, state and local governments can be attractive clients, especially in these difficult economic times.
