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
| Jan 17, 2014
Australian project transforms shipping containers into serene workplace
Australian firm Royal Wolf has put its money where its mouth is by creating an office facility out of shipping containers at its depot and fabrication center in Sunshine, Victoria.
| Jan 17, 2014
The Starchitect of Oz: New Gehry building in Sydney celebrates topping out
The Dr. Chau Chak Wing Building at the University of Technology, Sydney, will mark Frank Gehry's debut project in the Australian metro.
| Jan 16, 2014
Construction spending for 2013 finishing 5% higher than 2012: Gilbane Construction Economics report
??Construction growth is looking up, according to the December 2013 release of the periodic report Construction Economics, authored by Gilbane Building Company. Construction spending for 2013 will finish the year up 5%.
| Jan 16, 2014
ASHRAE revised climatic data for building design standards
ASHRAE Standard 169, Climatic Data for Building Design Standards, now includes climatic data for 5,564 locations throughout the world.
| Jan 15, 2014
6 social media skills every leader needs
The social media revolution—which is less than a decade old—has created a dilemma for senior executives. While its potential seems immense, the inherent risks create uncertainty and unease.
| Jan 15, 2014
Report: 32 U.S. buildings have been verified as net-zero energy performers
The New Buildings Institute's 2014 Getting to Zero Status report includes an interactive map detailing the net-zero energy buildings that have been verified by NBI.
| Jan 14, 2014
Sherwin-Williams unveils colormix 2014
Drawing influence from fashion, science, nature, pop culture and global traditions, Sherwin-Williams introduces colormix™ 2014, which captures colors that inspire creativity and design in today’s world. The four-palette collection provides design professionals with a guide to help them define the moods they want to create and select colors for their projects.
| Jan 13, 2014
Custom exterior fabricator A. Zahner unveils free façade design software for architects
The web-based tool uses the company's factory floor like "a massive rapid prototype machine,” allowing designers to manipulate designs on the fly based on cost and other factors, according to CEO/President Bill Zahner.
| Jan 13, 2014
AEC professionals weigh in on school security
An exclusive survey reveals that Building Teams are doing their part to make the nation’s schools safer in the aftermath of the Sandy Hook tragedy.
| Jan 13, 2014
6 legislative actions to ignite the construction economy
The American Institute of Architects announced its “punch list” for Congress that, if completed, will ignite the construction economy by spurring much needed improvements in energy efficiency, infrastructure, and resiliency, and create jobs for small business.