After a sharp dip in September, the Architecture Billings Index (ABI) climbed nearly three points in October. 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 October ABI score was 49.4, following a score of 46.9 in September. This score reflects an overall decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.3, up from a reading of 54.3 the previous month.
“An increase in the billings index is always an encouraging sign,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “We’re seeing some regions and some construction sectors move into positive territory. But there continues to be a high level of volatility in the marketplace with architecture firms reporting a wide range of conditions from improving to uncertain to poor. It’s likely we will see a similar state of affairs in the coming months.”
Key October ABI highlights:
- Regional averages: Northeast (51.7), South (49.1), Midwest (47.7), West (43.5)
- Sector index breakdown: commercial / industrial (53.5), multi-family residential (51.3), institutional (47.3), mixed practice (42.0)
- Project inquiries index: 57.3
The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers. BD+C
Related Stories
| Oct 28, 2014
Miami accepts more modest plan to renovate its convention center
The city of Miami has awarded an $11 million contract for its on-again, off-again convention center renovation to Denver-based Fentress Architects, which will serve as the design criteria professional on this project.
| Oct 28, 2014
Kean University creates Michael Graves School of Architecture
Winner of the AIA Gold Medal, the National Medal of the Arts, the Topaz Medallion and the Driehaus Prize for Architecture, Graves is best known for his contemporary building designs and prominent public commissions.
| Oct 27, 2014
Davis, Calif., latest city to join race to develop 'innovation hubs'
The city plans to develop two "innovation centers" with a total of seven million sf of commercial space geared for local research and technology companies.
| Oct 27, 2014
Report estimates 1.2 million people experience LEED-certified retail centers daily
The "LEED In Motion: Retail" report includes USGBC’s conceptualization of the future of retail, emphasizing the economic and social benefit of green building for retailers of all sizes and types.
| Oct 27, 2014
Top 10 green building products for 2015
Among the breakthrough products to make BuildingGreen's annual Top-10 Green Building Products list are halogen-free polyiso insulation and a high-flow-rate biofiltration system.
| Oct 27, 2014
Studio Gang Architects designs residential tower with exoskeleton-like exterior for Miami
Jeanne Gang's design reinvents the Florida room with shaded, asymmetrical balconies.
| Oct 26, 2014
New York initiates design competition for upgrading LaGuardia, Kennedy airports
New York Gov. Andrew Cuomo said that the state would open design competitions to fix and upgrade New York City’s aging airports. But financing construction is still unsettled.
| Oct 26, 2014
Study asks: Do green schools improve student performance?
A study by DLR Group and Colorado State University attempts to quantify the student performance benefits of green schools.
Sponsored | | Oct 24, 2014
Infographic: 5 key considerations for securing modular workspace
Keep these five considerations in mind for your next project that may benefit from modular space. SPONSORED CONTENT
| Oct 24, 2014
Herzog & de Meuron reveals plans for redesign of Roche pharmaceutical campus in Germany
The project includes the addition of a 205-meter-high tower and research center, as well as the renovation of an historic office building designed by Swiss architect Otto R. Salvisber.