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
| Jul 9, 2012
Integrated Design Group completes UCSB data center
Firm uses European standard of power at USCB North Hall Research Data Center.
| Jul 9, 2012
Oakdale, Calif., Heritage Oaks Senior Apartments opens
New complex highlights senior preferences for amenities.
| Jul 3, 2012
Trimble to acquire WinEstimator
Acquisition adds estimating software solutions to Meridian Systems’ portfolio.
| Jul 3, 2012
Summit Design+Build completes Emmi Solutions HQ
The new headquarters totals 20,455 sq. ft. and features a loft-style space with exposed masonry and mechanical systems, 17-ft clear ceilings, two large rooftop skylights, and private offices with full glass partition walls.
| Jul 3, 2012
TOLK now called Dewberry
The renaming indicates a simplification in Dewberry’s corporate naming conventions.
| Jul 2, 2012
Bernards building mixed-use project in Beverly Hills
The project includes 88 luxury apartment homes atop a 14,000-sf Trader Joe’s market and a new coffee shop.
| Jul 2, 2012
San Francisco lays claim to the greenest building in North America
The 13-floor building can hold around 900 people, but consumes 60% less water and 32% less energy than most buildings of its kind.
| Jul 2, 2012
Plumosa School of the Arts earns LEED Gold
Education project dedicated to teaching sustainability in the classroom.
| Jun 29, 2012
SOM writes a new chapter at Cincinnati’s The Christ Hospital
The 332,000–sf design draws on the predominantly red brick character of The Christ Hospital’s existing buildings, interpreting it in a fresh and contemporary manner that fits well within the historic Mt. Auburn neighborhood while reflecting the institution’s dedication to experience, efficiency, flexibility, innovation and brand.
| Jun 29, 2012
Benjamin Moore Paints announces new CEO
Robert S. Merritt comes to Benjamin Moore with over three decades of management experience in the restaurant and food preparation and distribution industries