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
| Sep 10, 2012
Specialty door types—plenty of functional variety
In the MasterFormat section 08 30 00, Specialty Doors and Frames, a number of door types are listed for special functions, access locations, sliding and folding hardware, and even pressure-resistant types.
| Sep 7, 2012
7 Do's and Don'ts for PV roof rack installation
As PVs grow in popularity, nearly half of all installations require roof rack systems. Our expert tells how to do the job right and protect your client’s roof.
| Sep 7, 2012
Net-zero energy pioneers on the el-hi frontier
Getting to net-zero is not easy, but the promise of eliminating energy bills and using state-of-the-art technology as a learning lab can make a compelling case to reach for net-zero.
| Sep 7, 2012
Healthcare architects get a preview of tomorrow’s medical landscape
The topic on everyone’s mind was how the Affordable Care Act would impact healthcare design and construction––and whether the law would even make it past the coming election cycle.
| Sep 7, 2012
Goettsch Partners designs new tower in Abu Dhabi
Al Hilal Bank’s 24-story flagship development provides contemporary office space.
| Sep 7, 2012
Suffolk awarded One Channel Center project in Boston
Firm to manage $125 million, 525,000-sf office building project.
| Sep 7, 2012
Duffy joins Thornton Tomasetti
At Hardesty & Hanover, Duffy partnered with Thornton Tomasetti on a number of projects.
| Sep 7, 2012
Lucile Packard Children’s Hospital breaks ground on expansion
Sustainability and nature at the heart of the new addition at the Stanford University Medical Center designed by Perkins+Will.
| Sep 6, 2012
Young Spirit of Nature Wood Architecture award to Tiina Antinoja
The award is given for a student work in which wood as a building material has a central role.
| Sep 6, 2012
CPPI awarded $30.3 million contract for University of Florida’s Harrell Medical Education Building
The specialized interdisciplinary learning environment will serve as a focal point for integration and program development for all primary care educational activities in the College of Medicine.