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
| Jun 12, 2014
Zaha Hadid's 'gravity defying' Issam Fares Institute opens in Beirut
The design builds upon the institute’s mission as a catalyst and connector between AUB, researchers and the global community.
| Jun 12, 2014
Tod Williams Billie Tsien Architects' design selected for new UCSC facility
The planned site is a natural landscape among redwood trees with views over Monterey Bay, a site that the architects have called “one of the most beautiful they have ever worked on.”
| Jun 12, 2014
Austrian university develops 'inflatable' concrete dome method
Constructing a concrete dome is a costly process, but this may change soon. A team from the Vienna University of Technology has developed a method that allows concrete domes to form with the use of air and steel cables instead of expensive, timber supporting structures.
| Jun 11, 2014
David Adjaye’s housing project in Sugar Hill nears completion
A new development in New York's historic Sugar Hill district nears completion, designed to be an icon for the neighborhood's rich history.
| Jun 11, 2014
Bill signing signals approval to revitalize New Orleans’ convention center corridor
A plan to revitalize New Orleans' Convention Center moves forward after Louisiana governor signs bill.
| Jun 11, 2014
5 ways Herman Miller's new office concept rethinks the traditional workplace
Today's technologies allow us to work anywhere. So why come to an office at all? Herman Miller has an answer.
| Jun 11, 2014
Koolhaas’ OMA teams with chemical company to study link between color and economy
Dutch company AkzoNobel is partnering with Rem Koolhaas' firm OMA to study how the application of colorful paints and coatings can affect a city's economic development.
| Jun 11, 2014
Oceanic oases: Two new luxury condominiums under construction in South Beach
Slated for completion in 2015, both the seven-story, 275,141 square-foot One Ocean and six-story, 190,654 square-foot Marea will offer landscapes by Enzo Enea and interiors by Yabu Pushelberg.
| Jun 11, 2014
Esri’s interactive guide to 2014 World Cup Stadiums
California-based Esri, a supplier of GIS software, created a nifty interactive map that gives viewers a satellite perspective of Brazil’s many new stadiums.
| Jun 10, 2014
Site optimization: Paving the way for smoother land development projects
The biggest cost differential when dealing in site development from one site to another is the earthwork. So, when selecting a site, it is critical to not only take into account the initial purchase price of the property, but also what sort of investment it will take to prep the site for development.
