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
| May 25, 2011
Low Impact Development: Managing Stormwater Runoff
Earn 1.0 AIA/CES HSW/SD learning units by studying this article and successfully passing the online exam.
| May 25, 2011
Register today for BD+C’s June 8th webinar on restoration and reconstruction projects
Based on new and award-winning building projects, this webinar presents our “expert faculty” to examine the key issues affecting project owners, designers and contractors in case studies ranging from gut renovations and adaptive reuses to restorations and retrofits.
| May 25, 2011
Hotel offers water beds on a grand scale
A semi-submerged resort hotel is the newest project from Giancarlo Zema, a Rome-based architect known for his organic maritime designs. The hotel spans one kilometer and has both land and sea portions.
| May 25, 2011
Smithsonian building $45 million green lab
Thanks to a $45 million federal appropriation to the Smithsonian Institution, the Smithsonian Environmental Research Center in Edgewater, Md., has broken ground on what is expected to be one of the most energy-efficient laboratories in the country. The 69,000-sf lab is targeting LEED Gold and is expected to use 37% less energy and emit 37% less carbon dioxide than a similar building.