Showing a steady increase in the demand for design services, the Architecture Billings Index (ABI) continues to accelerate, as it reached its second highest level of the year.
The American Institute of Architects (AIA) reported the September ABI score was 54.3, up from a mark of 53.8 in August. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.6, down from the reading of 63.0 the previous month.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending.
Key September ABI highlights:
• Regional averages: West (60.6), South (54.1), Midwest (51.0), Northeast (50.7)
• Sector index breakdown: commercial / industrial (57.9), multi-family residential (55.6), mixed practice (55.4), institutional (50.4)
• Project inquiries index: 58.6
Note: The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers.
About the AIA Architecture Billings Index
The Architecture Billings Index (ABI), produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine to twelve month glimpse into the future of nonresidential construction spending activity. The diffusion indexes contained in the full report are derived from a monthly “Work-on-the-Boards” survey that is sent to a panel of AIA member-owned firms. Participants are asked whether their billings increased, decreased, or stayed the same in the month that just ended as compared to the prior month, and the results are then compiled into the ABI. These monthly results are also seasonally adjusted to allow for comparison to prior months. The monthly ABI index scores are centered around 50, with scores above 50 indicating an aggregate increase in billings, and scores below 50 indicating a decline. The regional and sector data are formulated using a three-month moving average. More information on the ABI and the analysis of its relationship to construction activity can be found in the White Paper Architecture Billings as a Leading Indicator of Construction: Analysis of the Relationship Between a Billings Index and Construction Spending on the AIA web site.
About The American Institute of Architects
Founded in 1857, members of the American Institute of Architects consistently work to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through nearly 300 state and local chapters, the AIA advocates for public policies that promote economic vitality and public well being. Members adhere to a code of ethics and conduct to ensure the highest professional standards. The AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders, and the public to find solutions to pressing issues facing our communities, institutions, nation and world. Visit www.aia.org.
Related Stories
| Dec 7, 2011
DPR Foundation awards $590,000 to youth organizations
Grants will fund programs for disadvantaged kids across six states.
| Dec 7, 2011
Autodesk agrees to acquire Horizontal Systems
Acquisition extends and accelerates cloud-based BIM solutions for collaboration, data, and lifecycle management.
| Dec 7, 2011
ICS Builders and BKSK Architects complete St. Hilda’s House in Manhattan
The facility's design highlights the inherent link between environmental consciousness and religious reverence.
| Dec 6, 2011
Construction industry leaders gather for forum on diversity
Declared a “groundbreaking” event for the industry, Gilbane’s First Annual National Partners Council Forum addressed diversity and inclusion as well as building partnerships with minority, veteran, and women-owned businesses.
| Dec 6, 2011
Mortenson Construction completes Elk Wind Project in Iowa
By the end of 2011, Mortenson will have built 17 wind projects in the state generating a total of 1894 megawatts of renewable power.
| Dec 6, 2011
?ThyssenKrupp acquires Sterling Elevators Services
The acquisition of Sterling Elevator Services Corporation is the third acquisition completed by ThyssenKrupp Elevator AG in the last three months in North America.
| Dec 6, 2011
Vivenzio named vice president of building performance practice at Thornton Tomasetti’s New York Office
Vivenzio, a licensed architect in New York and New Jersey, has more than 28 years of experience in architectural project management, construction administration, building diagnostic services and forensic investigation.
| Dec 6, 2011
New office building features largest solar panel system in New Orleans
Woodward Design+Build celebrates grand opening of new green headquarters in Central City.
| Dec 5, 2011
New York and San Francisco receive World Green Building Council's Government Leadership Awards
USGBC commends two U.S. cities for their innovation in green building leadership.
| Dec 5, 2011
Summit Design+Build begins renovation of Chicago’s Esquire Theatre
The 33,000 square foot building will undergo an extensive structural remodel and core & shell build-out changing the building’s use from a movie theater to a high-end retail center.