Following a nine-month stretch of positive billings, the Architecture Billings Index (ABI) showed no increase in design activity in January.
The American Institute of Architects reported the January ABI score was 49.9, down from a mark of 52.6 in December. This score reflects a very modest decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, up from the reading of 51.3the previous month.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending.
“This easing in demand for design services is a bit of a surprise given the overall strength of the market over the past nine months,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Likely some of this can be attributed to severe weather conditions in January. We will have a better sense if there is a reason for more serious concern over the next couple of months.”
* Every January the AIA research department updates the seasonal factors used to calculate the ABI, resulting in a revision of recent ABI values.
Key December ABI highlights:
- Regional averages: South (54.8), West (49.3), Midwest (50.8), Northeast (46.0)
- Sector index breakdown: multi-family residential (51.4), institutional (53.0), commercial / industrial (50.9), mixed practice (46.9)
- Project inquiries index: 58.7
- Design contracts index: 51.3
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
About the AIA Architecture Billings Index
The Architecture Billings Index (ABI), produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine to twelve month glimpse into the future of nonresidential construction spending activity. More at: http://www.aia.org/practicing/economics/AIAS076265
Related Stories
| Jul 1, 2013
LEGOLAND builds 12-foot replica of One World Trade Center
The LEGOLAND Discovery Center Westchester in Yonkers, N.Y., celebrated the completion of a LEGO replica of One World Trade Center by lighting the 12-foot-tall, 100-pound model.
| Jul 1, 2013
Report: Global construction market to reach $15 trillion by 2025
A new report released today forecasts the volume of construction output will grow by more than 70% to $15 trillion worldwide by 2025.
| Jul 1, 2013
Elizabeth Chu Richter, FAIA, elected 2015 AIA President
Delegates to the American Institute of Architects (AIA) national convention in Denver elected Elizabeth Chu Richter (AIA Corpus Christi) to serve as the 2014 AIA first vice president/president-elect and 2015 AIA president.
| Jun 28, 2013
Calculating the ROI of building enclosure commissioning
A researcher at Lawrence Berkeley National Laboratory calls building enclosure commissioning “the single-most cost-effective strategy for reducing energy, costs, and greenhouse gas emissions in buildings today.”
| Jun 28, 2013
A brief history of windows in America
Historic window experts from Hoffmann Architects look back at the origin of windows in the U.S.
| Jun 28, 2013
Building owners cite BIM/VDC as 'most exciting trend' in facilities management, says Mortenson report
A recent survey of more than 60 building owners and facility management professionals by Mortenson Construction shows that BIM/VDC is top of mind among owner professionals.
| Jun 27, 2013
Thermal, solar control designs can impact cooling loads by 200%, heating loads by 30%
Underestimating thermal bridging can greatly undermine a building’s performance contributing to heating load variances of up to 30% and cooling load variances of up to 200%, says the MMM Group.
| Jun 26, 2013
New York’s ‘Scaffold Law’ may be altered to place larger burden on workers
New York's Scaffold Law, which “places the burden of responsibility on the contractor to prove that the job site was safe for workers,” could be facing a major change.
| Jun 26, 2013
Commercial real estate execs eye multifamily, retail sectors for growth, says KPMG report
The multifamily, retail, and hospitality sectors are expected to lead commercial building growth, according to the 2013 KPMG Commercial Real Estate Outlook Survey.
| Jun 25, 2013
Mirvish, Gehry revise plans for triad of Toronto towers
A trio of mixed-use towers planned for an urban redevelopment project in Toronto has been redesigned by planners David Mirvish and Frank Gehry. The plan was announced last October but has recently been substantially revised.
