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
| Jul 23, 2014
Meet Acquario Ceará: The giant crustacean-shaped aquarium that's causing concerns
A new aquarium on Brazil's northeastern coast is designed, engineered, constructed and financed by U.S. firms and institutions.
| Jul 23, 2014
Top Healthcare Sector Construction Firms [2014 Giants 300 Report]
Turner, McCarthy, and Skanska USA top Building Design+Construction's 2014 ranking of the largest healthcare contractors and construction management firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Engineering Firms [2014 Giants 300 Report]
AECOM, Jacobs, and URS Corp. top Building Design+Construction's 2014 ranking of the largest healthcare engineering and engineering/architecture firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Architecture Firms [2014 Giants 300 Report]
HDR, Stantec, and HKS top Building Design+Construction's 2014 ranking of the largest healthcare architecture and architecture/engineering firms in the U.S.
| Jul 23, 2014
Tallest skyscraper in South Korea now open
The Northeast Asia Trade Tower stands at 308 meters and is the focal point of the Songdo International Business District, a new 310-hectare city built on reclaimed land.
| Jul 23, 2014
Architecture Billings Index up nearly a point in June
AIA reported the June ABI score was 53.5, up from a mark of 52.6 in May.
| Jul 22, 2014
L.A.'s tallest tower to get observation deck
U.S. Bank Tower, as part of a series of improvements, will be getting an observation deck and restaurant at its top.
| Jul 22, 2014
Herzog & de Meuron unveil curvy concrete condo in Manhattan
Herzog & de Meuron have released renderings of their new $250 million New York building, a 12-story condominium with 88 luxury apartments.
| Jul 21, 2014
Narrowing the field: Stirling Prize shortlist announced
The list includes first-time nominees Mecanoo and Renzo Piano Building Workshop, as well as previous winners Zaha Hadid Architects and Feilden Clegg Bradley Studios.
| Jul 21, 2014
Designing the process of leadership transition
Transition planning can be one of the more complex challenges that firms face. Effective plans begin by determining the gap between a firm’s current state and the future it envisions for itself. SPONSORED CONTENT
