The Architecture Billings Index (ABI) slipped in August after showing mostly healthy business conditions so far this year. The American Institute of Architects reported the August ABI score was 49.1, down from a mark of 54.7 in July. This score reflects a slight decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.8, down from a reading of 63.7 the previous month.
As an economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending.
“Over the past several years, a period of sustained growth in billings has been followed by a temporary step backwards,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “The fact that project inquiries and new design contracts continue to grow at a healthy pace suggests that this should not be a cause for concern throughout the design and construction industry.”
Key August ABI highlights:
• Regional averages: Midwest (56.1), South (53.8), West (50.2) Northeast (46.8)
• Sector index breakdown: institutional (53.7), mixed practice (52.8), commercial / industrial (49.7) multi-family residential (49.5)
• Project inquiries index: 61.8
• Design contracts index: 55.3
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
Museums | Oct 20, 2015
Frank Lloyd Wright’s Bachman Wilson House finds new home at Arkansas museum
Crystal Bridges Museum reconstructed the 61-year-old Usonian house and will open it to the public in November.
Architects | Oct 20, 2015
Four building material innovations from the Chicago Architecture Biennial
From lightweight wooden pallets to the largest lengths of CLT-slabs that can be shipped across North America
University Buildings | Oct 16, 2015
5 ways architecture defines the university brand
People gravitate to brands for many reasons. Campus architecture and landscape are fundamental influences on the college brand, writes Perkins+Will's David Damon.
Architects | Oct 13, 2015
Architects Foundation expands National Resilience Initiative
The group is launching a search for three more NRI members.
Architects | Oct 13, 2015
Santiago Calatrava wins the European Prize for Architecture
The award honors those who "forward the principles of European humanism."
Office Buildings | Oct 5, 2015
Renderings revealed for Apple's second 'spaceship': a curvy, lush office complex in Sunnyvale
The project has been dubbed as another “spaceship,” referencing the nickname for the loop-shaped Apple Campus under construction in Cupertino.
Airports | Oct 5, 2015
Perkins+Will selected to design Istanbul’s 'Airport City'
The mixed-use development will be adjacent to the Istanbul New Airport, which is currently under construction.
High-rise Construction | Oct 5, 2015
Zaha Hadid designs cylindrical office building with world’s tallest atrium
The 200-meter-high open space will cut the building in two.
Architects | Oct 2, 2015
Herzog & de Meuron unveils design for Vancouver Art Gallery expansion
The blocky, seven-story wood and concrete structure is wider in the middle and uppermost floors.
Airports | Sep 30, 2015
Takeoff! 5 ways high-flyin' airports are designing for rapid growth
Nimble designs, and technology that humanizes the passenger experience, are letting airports concentrate on providing service and generating revenue.
