Continuing the positive momentum of a nearly three point bump in October, the Architecture Billings Index (ABI) reached its first positive mark since August. 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 American Institute of Architects (AIA) reported the November ABI score was 52.0, following a score of 49.4 in October. 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 65.0, up dramatically from a reading of 57.3 the previous month.
"This is a heartening development for the design and construction industry that only a few years ago accounted for nearly ten percent of overall GDP but has fallen to slightly less than six percent," said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. "Hopefully, this uptick in billings is a sign that a recovery phase is in the works. However, given the volatility that we've seen nationally and internationally recently, we'll need to see several more months of positive readings before we'll have much confidence that the U.S. construction recession is ending."
- Regional averages: South (54.4), Midwest (50.9), Northeast (49.1), West (45.6)
- Sector index breakdown: multi-family residential (55.8), commercial / industrial (53.9),
- Institutional (48.9), mixed practice (41.6)
- Project inquiries index: 65.0
Related Stories
Sponsored | | Nov 6, 2014
Drilling deeper: On the ground insights from the Marcellus Shale region
The Marcellus Shale region is expansive, stretching from upstate New York through Pennsylvania to West Virginia. It’s an exciting time to live and work in the area. SPONSORED CONTENT
| Nov 5, 2014
AEC firms leverage custom scripts to bridge the ‘BIM language gap'
Without a common language linking BIM/VDC software platforms, firms seek out interoperability solutions to assist with the data transfer between design tools.
| Nov 5, 2014
Survey: More than 75% of workload takes place without face-to-face interactions
With the rise of technology, much of the workday—even the most productive morning hours—is spent corresponding via email or conference call, according to a recent survey of corporate workers by Mancini•Duffy.
| Nov 5, 2014
The architects behind George Lucas' planned Chicago museum unveil 'futuristic pyramid'
Preliminary designs for the $300 million George Lucas Museum of Narrative Art have been unveiled, and it looks like a futuristic, curvy pyramid.
Sponsored | | Nov 5, 2014
How to maximize affordability and sustainability through all-wood podiums
Wood podium construction takes an age-old material and moves it into the 21st century.
| Nov 4, 2014
Zaha Hadid's first building in Shanghai debuts
Sky SOHO is the third in a trilogy of SOHO China developments designed by Zaha Hadid Architects.
| Nov 4, 2014
HOK breaks ground on colossal research complex for LG in Seoul
Located in Seoul’s Magok District, the LG Science Park provides facilities to support innovative research and industrial prototyping. HOK designed phase one of the master plan and six of the laboratory and office buildings.
| Nov 3, 2014
IIT names winners of inaugural Mies Crown Hall Americas Prize
Herzog & de Meuron's iconic 1111 Lincoln Road parking garage in Miami Beach, Fla., is one of two winners of the $50,000 architectural prize.
| Nov 3, 2014
Cairo's ultra-green mixed-use development will be topped with flowing solar canopy
The solar canopy will shade green rooftop terraces and sky villas atop the nine-story structure.
| Nov 2, 2014
Top 10 LEED lessons learned from a green building veteran
M+W Group's David Gibney offers his top lessons learned from coordinating dozens of large LEED projects during the past 13 years.
