Billings at architecture firms accelerated to their strongest pace of growth since December 2010. As a leading economic indicator of construction activity, the Architecture Billings Index (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 52.8, up from the mark of 51.6 in September. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.4, compared to a mark of 57.3 the previous month.
“With three straight monthly gains – and the past two being quite strong – it’s beginning to look like demand for design services has turned the corner,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “With 2012 winding down on an upnote, and with the national elections finally behind us, there is a general sense of optimism. However, this is balanced by a tremendous amount of anxiety and uncertainty in the marketplace, which likely means that we’ll have a few more bumps before we enter a full-blown expansion.”
Key October ABI highlights:
- Regional averages: South (52.8), Northeast (52.6), West (51.8), Midwest (50.8)
- Sector index breakdown: multi-family residential (59.6), mixed practice (52.4), institutional (51.4), commercial / industrial (48.0)
- Project inquiries index: 59.4
The regional and sector categories are calculated as a three-month moving average, whereas the index and inquiries are monthly numbers. +
Related Stories
Architects | Oct 3, 2019
LEO A DALY wins Architect of the Capitol contract
The firm will help modernize some of the country’s most significant public buildings.
3D Printing | Sep 17, 2019
Additive manufacturing goes mainstream in the industrial sector
More manufacturers now include this production process in their factories.
Multifamily Housing | Sep 12, 2019
Meet the masters of offsite construction
Prescient combines 5D software, clever engineering, and advanced robotics to create prefabricated assemblies for apartment buildings and student housing.
Cultural Facilities | Sep 11, 2019
The Kennedy Center expands for the first time since its 1971 debut
The REACH, with three pavilions on a generous lawn, adds openness and light to this performance space.
Architects | Sep 11, 2019
Buoyed by construction activity, architect compensation continues to see healthy gains
The latest AIA report breaks down its survey data by 44 positions and 28 metros.
Multifamily Housing | Sep 10, 2019
Carbon-neutral apartment building sets the pace for scalable affordable housing
Project Open has no carbon footprint, but the six-story, solar-powered building is already leaving its imprint on Salt Lake City’s multifamily landscape.
Giants 400 | Sep 9, 2019
Top 70 Industrial Sector Architecture Firms for 2019
AECOM, Stantec, Ware Malcomb, FSB, and Macgregor Associates top the rankings of the nation's largest industrial sector architecture and architecture engineering (AE) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Sep 9, 2019
2019 Industrial Sector Giants Report: Managing last mile delivery
This and more industrial building sector trends from Building Design+Construction's 2019 Giants 300 Report.
Codes and Standards | Sep 9, 2019
Free app calculates maximum allowable heights and areas for buildings
A free app that calculates the maximum allowable heights and areas for buildings of various occupancy classifications and types of construction has been released.
Retail Centers | Sep 6, 2019
Another well-known retailer files for bankruptcy: Here's the solution to more empty anchor stores
Where can you find the future of retail? At the intersection of experience and instant gratification.
