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
| Sep 28, 2022
New digital platform to foster construction supply chains free of forced labor
Design for Freedom by Grace Farms and the U.S. Coalition on Sustainability formed a partnership to advance shared goals regarding sustainable and ethical building material supply chains that are free of forced labor.
| Sep 27, 2022
New Buildings Institute released the Existing Building Decarbonization Code
New Buildings Institute (NBI) has released the Existing Building Decarbonization Code.
| Sep 23, 2022
High projected demand for new housing prompts debate on best climate-friendly materials
The number of people living in cities could increase to 80% of the total population by 2100. That could require more new construction between now and 2050 than all the construction done since the start of the industrial revolution.
| Sep 23, 2022
Central offices making a comeback after pandemic
In the early stages of the Covid pandemic, commercial real estate industry experts predicted that businesses would increasingly move toward a hub-and-spoke office model.
| Sep 22, 2022
Gainesville, Fla., ordinance requires Home Energy Score during rental inspections
The city of Gainesville, Florida was recently recognized by the U.S. Dept. of Energy for an adopted ordinance that requires rental housing to receive a Home Energy Score during rental inspections.
| Sep 21, 2022
New California law creates incentive for installing outdoor dining safety barriers
A new California law provides an incentive for commercial property owners to install barriers to protect outdoor diners.
| Sep 21, 2022
Demand for design services accelerates
Demand for design services from U.S. architecture firms grew at an accelerated pace in August, according to a new report today from The American Institute of Architects (AIA).
K-12 Schools | Sep 21, 2022
Architecture that invites everyone to dance
If “diversity” is being invited to the party in education facilities, “inclusivity” is being asked to dance, writes Emily Pierson-Brown, People Culture Manager with Perkins Eastman.
| Sep 20, 2022
NIBS develops implementation plan for digital transformation of built environment
The National Institute of Building Sciences (NIBS) says it has developed an implementation and launch plan for a sweeping digital transformation of the built environment.
| Sep 20, 2022
New Long Beach office building reflects Mid-Century Modern garden-style motif
The new Long Beach, Calif., headquarters of Laserfiche, a provider of intelligent content management and business process automation software, was built on a brownfield parcel previously considered undevelopable.
