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
| Mar 1, 2012
Reconstruction Awards: Reinvesting in a neighborhood’s future
The reconstruction of a near-century-old derelict public works facility in Minneapolis earns LEED Platinum—and the hearts and minds of the neighboring community.
| Mar 1, 2012
7 keys to ‘Highest value, lowest cost’ for healthcare construction
The healthcare design and construction picture has been muddied by uncertainty over the new healthcare law. Hospital systems are in a bind, not knowing what levels of reimbursement to expect. Building Teams serving this sector will have to work even harder to meet growing client demands.
| Mar 1, 2012
Cornell shortlists six architectural firms for first building on tech campus
Each of the firms will be asked to assemble a team of consultants and prepare for an interview to discuss their team’s capabilities to successfully design the university’s project.
| Mar 1, 2012
Aragon Construction completes 67,000-sf build-out in NYC
Aragon constructed the space in partnership with Milo Kleinberg Design Associates, (MKDA) and the Craven Corp. as the owner’s representative.
| Mar 1, 2012
Bomel completes design-build parking complex at U.C. San Diego
The $24-million facility, which fits into a canyon setting on the university’s East Campus, includes 1,200 stalls in two adjoining garages and a soccer field on a top level.
| Mar 1, 2012
Eidco Construction bolsters Chicago office
Eldco hires Peterson and Vivoda as senior project managers.
| Mar 1, 2012
Reconstruction of L.A.’s Dunbar Hotel underway
Withee Malcolm Architects’ designs for the project include the complete renovation of the Dunbar Hotel and the Somerville Apartments I and II.
| Feb 29, 2012
C.W. Driver opens new office, appoints Castillo regional SVP
Castillo will oversee projects with new and existing clients in northern California within the areas of education, healthcare/biomedical, public sector, military contracting, entertainment, retail, corporate and hospitality.
| Feb 29, 2012
Report says BIPV glass market to reach $6.4 billion by 2016
The report analyzes the opportunities for BIPV glass products using c-Si, thin-film and OPV/DSC materials and provides eight-year forecasts in terms of MW and square footage shipped as well as forecasts of revenue generated.
| Feb 29, 2012
Construction begins on Keller Army Community Hospital addition
The 51,000 square foot addition will become the home for optometry, ophthalmology, physical therapy, and orthopedics clinics, as well as provide TRICARE office space.