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
| May 31, 2012
5 military construction trends
Defense spending may be down somewhat, but there’s still plenty of project dollars out there if you know where to look.
| May 31, 2012
New School’s University Center in NYC topped out
16-story will provide new focal point for campus.
| May 31, 2012
Day & Zimmermann taps Jobe for ECM VP
Ken Jobe, a senior executive with 30+ years of industry-related experience, joins Day & Zimmermann to expand footprint in the process & industrial markets.
| May 31, 2012
Perkins+Will-designed engineering building at University of Buffalo opens
Clad in glass and copper-colored panels, the three-story building thrusts outward from the core of the campus to establish a new identity for the School of Engineering and Applied Sciences and the campus at large.
| May 30, 2012
Construction milestone reached for $1B expansion of San Diego International Airport
Components of the $9-million structural concrete construction phase included a 700-foot-long, below-grade baggage-handling tunnel; metal decks covered in poured-in-place concrete; slab-on-grade for the new terminal; and 10 exterior architectural columns––each 56-feet tall and erected at a 14-degree angle.
| May 30, 2012
Pringle Brandon in discussions to join forces with Perkins+Will
The London offices would be known as Pringle Brandon Perkins+Will.
| May 30, 2012
Boral Bricks announces winners of “Live.Work.Learn” student architecture contest
Eun Grace Ko, a student at the Ryerson University in Toronto, Canada, named winner of annual contest.
| May 30, 2012
Hill International to manage construction of Al Risafa Stadium in Iraq
The three-year contract has an estimated value to Hill of approximately $3.3 million.