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 12, 2011
Metal cladding: Enhancing design with single-skin panels, MCMs, and IMPs
Single-skin metal panels, metal composite panels, and insulated metal panels can add both aesthetic and functional value to your projects, if you use them correctly.
| Apr 12, 2011
American Institute of Architects announces Guide for Sustainable Projects
AIA Guide for Sustainable Projects to provide design and construction industries with roadmap for working on sustainable projects.
| Apr 11, 2011
Wind turbines to generate power for new UNT football stadium
The University of North Texas has received a $2 million grant from the State Energy Conservation Office to install three wind turbines that will feed the electrical grid and provide power to UNT’s new football stadium.
| Apr 8, 2011
SHW Group appoints Marjorie K. Simmons as CEO
Chairman of the Board Marjorie K. Simmons assumes CEO position, making SHW Group the only firm in the AIA Large Firm Roundtable to appoint a woman to this leadership position
| Apr 5, 2011
Zaha Hadid’s civic center design divides California city
Architect Zaha Hadid is in high demand these days, designing projects in Hong Kong, Milan, and Seoul, not to mention the London Aquatics Center, the swimming arena for the 2012 Olympics. But one of the firm’s smaller clients, the city of Elk Grove, Calif., recently conjured far different kinds of aquatic life when members of the City Council and the public chose words like “squid,” “octopus,” and “starfish” to describe the latest renderings for a proposed civic center.
| Apr 5, 2011
Are architects falling behind on BIM?
A study by the National Building Specification arm of RIBA Enterprises showed that 43% of architects and others in the industry had still not heard of BIM, let alone started using it. It also found that of the 13% of respondents who were using BIM only a third thought they would be using it for most of their projects in a year’s time.
