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
| Nov 4, 2011
Mortenson Construction builds its fifth wind facility In Illinois
Shady Oaks Wind Farm is under construction near Compton, Ill.
| Nov 4, 2011
CSI and ICC Evaluation Service agree to reference GreenFormat in ICC-ES Environmental Reports?
ICC-ES currently references CSI's MasterFormat and other formats in all of its evaluation reports. The MOU will add GreenFormat references.
| Nov 4, 2011
McCarthy completes construction of South Region High School No. 2 in Los Angeles
Despite rain delays and scope changes, the $96.7 million high school was completed nearly two-months ahead of schedule.
| Nov 4, 2011
Two Thornton Tomasetti projects win NCSEA’s 2011 Excellence in Structural Engineering Awards
Altra Sede Regione Lombardia and Bank of Oklahoma Center both recognized.
| Nov 3, 2011
GREC Architects announces opening of the Westin Abu Dhabi Golf Resort and Spa
The hotel was designed by GREC and an international team of consultants to enhance the offerings of the Abu Dhabi Golf Club without imposing upon the dramatic landscapes of the elite golf course.
| Nov 3, 2011
Hardin Construction tops out Orlando Embassy Suites
The project began in April 2011 and is expected to open in fall 2012.
| Nov 3, 2011
2012 Pritzker Architecture Prize Ceremony to be held in China
The tradition of moving the event to world sites of architectural significance was established to emphasize that the prize is international, the laureates having been chosen from 16 different nations to date.
| Nov 3, 2011
DMR Architects welcomes two new staff members
Siro Gonzalez joins the staff as junior graduate architect and Megan Byers joins the staff as marketing assistant.
| Nov 2, 2011
Mega deals drive 28% increase in global engineering and construction merger and acquisition value
Financial investors lead mega deal activity, China most active country in global domestic deals.
| Nov 2, 2011
Alexandria Real Estate Equities, Inc. breaks ground on Alexandria Center in Cambridge, Mass.
307,000-sf building to be house to executive offices of Biogen Idec.
