The Architecture Billings Index (ABI) slipped in August after showing mostly healthy business conditions so far this year. The American Institute of Architects reported the August ABI score was 49.1, down from a mark of 54.7 in July. This score reflects a slight decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.8, down from a reading of 63.7 the previous month.
As an economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending.
“Over the past several years, a period of sustained growth in billings has been followed by a temporary step backwards,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “The fact that project inquiries and new design contracts continue to grow at a healthy pace suggests that this should not be a cause for concern throughout the design and construction industry.”
Key August ABI highlights:
• Regional averages: Midwest (56.1), South (53.8), West (50.2) Northeast (46.8)
• Sector index breakdown: institutional (53.7), mixed practice (52.8), commercial / industrial (49.7) multi-family residential (49.5)
• Project inquiries index: 61.8
• Design contracts index: 55.3
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
| Mar 21, 2014
How to get more referrals
If you’re having a hard time attracting new referrals, here are a few techniques for increasing the number of interactions with potential clients.
| Mar 20, 2014
Common EIFS failures, and how to prevent them
Poor workmanship, impact damage, building movement, and incompatible or unsound substrate are among the major culprits of EIFS problems.
| Mar 20, 2014
D.C. breaks ground on $2B mega waterfront development [slideshow]
When complete, the Wharf will feature approximately 3 million sf of new residential, office, hotel, retail, cultural, and public uses, including waterfront parks, promenades, piers, and docks.
| Mar 20, 2014
13 dazzling wood building designs [slideshow]
From bold structural glulam designs to striking textured wall and ceiling schemes, these award-winning building projects showcase the design possibilities using wood.
| Mar 20, 2014
Fluor defines the future 7D deliverable without losing sight of real results today
A fascinating client story by Fluor SVP Robert Prieto reminds us that sometimes it’s the simplest details that can bring about real results today—and we shouldn’t overlook them, even as we push to change the future state of project facilitation.
| Mar 19, 2014
Architecture Billings Index shows slight improvement
The American Institute of Architects (AIA) reported that the February ABI score was 50.7, up slightly from a mark of 50.4 in January.
| Mar 19, 2014
Gehry, Zaha, Foster, Meier: Vote for your top 'starchitect' in this March Madness design legends tourney
Fast Company's Bracket Madness tournament pits 32 designers against each other to see who truly is the world's greatest living designer.
| Mar 19, 2014
Is it time to start selecting your own clients?
Will 2014 be the year that design firms start selecting the clients they want rather than getting in line with competitors to respond to RFPs? That’s the question posed by a recent thought-provoking article.
| Mar 19, 2014
How to develop a healthcare capital project using a 'true north charter'
Because healthcare projects take years to implement, developing a true north charter is essential for keeping the entire team on track and moving in the right direction.
| Mar 18, 2014
6 keys to better healthcare design
Healthcare facility planning and design experts cite six factors that Building Teams need to keep in mind on their next healthcare project.
