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
| Feb 1, 2012
Blackney Hayes designs school for students with learning differences
The 63,500 sf building allows AIM to consolidate its previous two locations under one roof, with room to expand in the future.
| Feb 1, 2012
Two new research buildings dedicated at the University of South Carolina
The two buildings add 208,000 square feet of collaborative research space to the campus.
| Feb 1, 2012
List of Top 10 States for LEED Green Buildings released?
USGBC releases list of top U.S. states for LEED-certified projects in 2011.
| Feb 1, 2012
ULI and Greenprint Foundation create ULI Greenprint Center for Building Performance
Member-to-member information exchange measures energy use, carbon footprint of commercial portfolios.
| Feb 1, 2012
AEC mergers and acquisitions up in 2011, expected to surge in 2012
Morrissey Goodale tracked 171 domestic M&A deals, representing a 12.5% increase over 2010 and a return to levels not seen since 2007.
| Jan 31, 2012
AIA CONTINUING EDUCATION: Reroofing primer, in-depth advice from the experts
Earn 1.0 AIA/CES learning units by studying this article and successfully completing the online exam.
| Jan 31, 2012
28th Annual Reconstruction Awards: Modern day reconstruction plays out
A savvy Building Team reconstructs a Boston landmark into a multiuse masterpiece for Suffolk University.
| Jan 31, 2012
Chapman Construction/Design: ‘Sustainability is part of everything we do’
Chapman Construction/Design builds a working culture around sustainability—for its clients, and for its employees.
| Jan 31, 2012
Fusion Facilities: 8 reasons to consolidate multiple functions under one roof
‘Fusing’ multiple functions into a single building can make it greater than the sum of its parts. The first in a series on the design and construction of university facilities.
| Jan 31, 2012
Suffolk Construction to manage Lawrence & Memorial Hospital Cancer Center project in Waterford, Conn.
Leading construction management firm overseeing one of first healthcare projects in the country to utilize innovative IPD process.
