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
| Mar 1, 2012
8 tips for architects to consider before LED installation
Lighting experts offer Building Team members critical information to consider before upgrading lighting systems to LEDs.
| Mar 1, 2012
Reconstruction Awards: Reinvesting in a neighborhood’s future
The reconstruction of a near-century-old derelict public works facility in Minneapolis earns LEED Platinum—and the hearts and minds of the neighboring community.
| Mar 1, 2012
7 keys to ‘Highest value, lowest cost’ for healthcare construction
The healthcare design and construction picture has been muddied by uncertainty over the new healthcare law. Hospital systems are in a bind, not knowing what levels of reimbursement to expect. Building Teams serving this sector will have to work even harder to meet growing client demands.
| Mar 1, 2012
Cornell shortlists six architectural firms for first building on tech campus
Each of the firms will be asked to assemble a team of consultants and prepare for an interview to discuss their team’s capabilities to successfully design the university’s project.
| Mar 1, 2012
Aragon Construction completes 67,000-sf build-out in NYC
Aragon constructed the space in partnership with Milo Kleinberg Design Associates, (MKDA) and the Craven Corp. as the owner’s representative.
| Mar 1, 2012
Bomel completes design-build parking complex at U.C. San Diego
The $24-million facility, which fits into a canyon setting on the university’s East Campus, includes 1,200 stalls in two adjoining garages and a soccer field on a top level.
| Mar 1, 2012
Eidco Construction bolsters Chicago office
Eldco hires Peterson and Vivoda as senior project managers.
| Mar 1, 2012
Reconstruction of L.A.’s Dunbar Hotel underway
Withee Malcolm Architects’ designs for the project include the complete renovation of the Dunbar Hotel and the Somerville Apartments I and II.
| Feb 29, 2012
C.W. Driver opens new office, appoints Castillo regional SVP
Castillo will oversee projects with new and existing clients in northern California within the areas of education, healthcare/biomedical, public sector, military contracting, entertainment, retail, corporate and hospitality.
| Feb 29, 2012
Report says BIPV glass market to reach $6.4 billion by 2016
The report analyzes the opportunities for BIPV glass products using c-Si, thin-film and OPV/DSC materials and provides eight-year forecasts in terms of MW and square footage shipped as well as forecasts of revenue generated.