The Architecture Billings Index (ABI) concluded the year in positive terrain, with the December reading capping off three straight months of growth in design billings.
The American Institute of Architects (AIA) reported the December ABI score was 52.9, down from a score of 55.0 in the previous month. This score still reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings).
The new projects inquiry index was 61.9, up from a reading of 61.1 the previous month, while the new design contracts index decreased slightly from 53.2 to 52.7.
“Overall, 2017 turned out to be a strong year for architecture firms,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “All but two months saw ABI scores in positive territory. Additionally, the overall strength of the fourth quarter lays a good foundation for healthy growth in construction activity in 2018.”
Key December ABI highlights:
• Regional averages: South (56.3), West (53.0), Midwest (52.9), Northeast (49.4)
• Sector index breakdown: multi-family residential (55.4), commercial / industrial (54.8), institutional (51.2), mixed practice (50.4)
• Project inquiries index: 61.9
• Design contracts index: 53.2
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
Multifamily Housing | Jan 20, 2021
Abandoned Miami hospital gets third life as waterfront condo development
The 1920s King Cole Hotel becomes the Ritz-Carlton Residences Miami in the largest residential adaptive reuse project in South Florida.
Market Data | Jan 19, 2021
2021 construction forecast: Nonresidential building spending will drop 5.7%, bounce back in 2022
Healthcare and public safety are the only nonresidential construction sectors that will see growth in spending in 2021, according to AIA's 2021 Consensus Construction Forecast.
Multifamily Housing | Jan 14, 2021
The Weekly show, Jan 14, 2021: Passive House innovations, and launching a design studio during the pandemic
This week on The Weekly show, BD+C editors speak with AEC industry leaders about innovations in Passive House design, and the challenges of building a design team and opening a new design studio during a pandemic.
Multifamily Housing | Jan 8, 2021
Student housing development in the time of COVID-19
Despite the coronavirus pandemic, many college and university residences were completed in time for classes, live or virtual. Here are 14 of the best.
Contractors | Jan 7, 2021
The Weekly show, Jan 7, 2021: Preconstruction boot camp, and leadership strategies for navigating a challenging market
The January 7 episode of BD+C's The Weekly is available for viewing on demand.
Architects | Jan 5, 2021
Ware Malcomb finds itself in the mix for multiple diverse projects
Its latest completion is an office/factory/warehouse combo for one of Marvin Window’s brands.
Architects | Jan 4, 2021
Moody Nolan receives 2021 AIA Architecture Firm Award
Founded by Curt Moody, FAIA, NOMA, and the late engineer Howard E. Nolan, the firm’s work is centered on the belief that diverse perspectives foster creativity and more responsive solutions.
AEC Tech | Dec 17, 2020
The Weekly show: The future of eSports facilities, meet the National Institute for AI in Construction
The December 17 episode of BD+C's The Weekly is available for viewing on demand.
Multifamily Housing | Dec 16, 2020
What the Biden Administration means for multifamily construction
What can the multifamily real estate sector expect from Biden and Company? At the risk of having egg, if not a whole omelet, on my face, let me take a shot.
Giants 400 | Dec 16, 2020
Download a PDF of all 2020 Giants 400 Rankings
This 70-page PDF features AEC firm rankings across 51 building sectors, disciplines, and specialty services.
