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
| Nov 11, 2012
AIA: Building Envelope
Preventing and treating failure in glazed curtain wall systems. Earn 1.0 AIA/CES learning units by studying this article and successfully completing the online exam.
| Nov 11, 2012
Greenbuild 2012 Report: Hospitality
Hotel boom signals good news for greener lodging facilities
| Nov 11, 2012
Greenbuild 2012 Report: Government & Military
Public sector remains a bastion of sustainability
| Nov 11, 2012
Greenbuild 2012 Report: Healthcare
Green medical facilities extend beyond hospital walls
| Nov 11, 2012
Greenbuild 2012 Report: Multifamily
Sustainably designed apartments are apples of developers’ eyes
| Nov 11, 2012
Greenbuild 2012 Report: Higher Education
More and more colleges and universities see sustainainably designed buildings as a given
| Nov 11, 2012
Greenbuild 2012 Report: K-12
High-performance schools put ‘sustainability’ in the lesson plan
| Nov 7, 2012
John Portman & Associates awarded new high rise in China
108-story building to rise in Nanning, the Capital City of Guangxi Province.
| Nov 7, 2012
Two Thornton Tomasetti projects receive 2012 International Architecture Awards for Best Global Design
The awards, presented by the Chicago Athenaeum Museum of Architecture Design, the European Center for Architecture Art Design, and Urban Studies and Metropolitan Arts Press, Ltd., recognize excellence in architecture and urban planning.