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
| Apr 25, 2012
J.C. Anderson selected for 50,000-sf build out at Chicago’s DePaul University
The build-out will consist of the construction of new offices, meeting rooms, video rooms and a state-of-the-art multi-tiered Trading Room.
| Apr 24, 2012
ULI Real Estate Consensus Forecast, projects improvements for the real estate industry through 2014
Survey is based on opinions from 38 of the nation’s leading real estate economists and analysts and suggests a marked increase in commercial real estate activity, with total transaction volume expected to rise from $250 billion in 2012 to $312 billion in 2014.
| Apr 24, 2012
Roofing Supply Group acquired by Clayton, Dubilier & Rice
RSG provides a complete offering of residential and commercial roofing materials and related supplies.
| Apr 24, 2012
McLennan named Ashoka Fellow
McLennan was recognized for his work on the Living Building Challenge.
| Apr 24, 2012
AECOM design and engineering team realizes NASA vision for Sustainability Base
LEED Platinum facility opens at NASA Ames Research Center at California’s Moffett Field.
| Apr 23, 2012
Vegas’ CityCenter called financial ‘black hole’
Two and a half years ago, stockholders filed six lawsuits after the stock price fell from $99.75 on Oct. 9, 2007, to $1.89 on March 5, 2009. Bondholders sued over similar steep losses.
| Apr 23, 2012
Innovative engineering behind BIG’s Vancouver Tower
Buro Happold’s structural design supports the top-heavy, complex building in a high seismic zone; engineers are using BIM technology to design a concrete structure with post-tensioned walls.
| Apr 23, 2012
AAMA releases updated specification for anodized aluminum
AAMA 611-12 describes test procedures and requirements for high performance (Class I) and commercial (Class II) architectural quality aluminum oxide coatings applied to aluminum extrusions and panels for architectural products.
| Apr 23, 2012
Thornton Tomasetti project wins AISC Merit Award
Thornton Tomasetti provided structural design services through construction administration to architect HOK for the 1.6-million-sf tower and tiara structure, which comprises 15 steel tube arches spanning approximately 158 feet horizontally and 130 feet vertically from the top of the main building roof.
