While architecture billings moderated in September, design activity shows signs of remaining sluggish at U.S. architecture firms, according to a new report released today from the American Institute of Architects (AIA).
The Architecture Billings Index (ABI) score in September is 49.7, which improved from the August score of 47.2. However, any score below 50 indicates a decrease in billings. During September, both the new project inquiries and design contracts scores were positive, posting scores of 59.0 and 54.4 respectively.
“Though still in negative territory, the moderating billings score along with the rebound in design contracts and inquiries serve as a continued note of caution for the industry,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “Continued weakness in the larger economy still doesn’t bode well for future design services, which will likely see continued volatility in the months ahead.”
Key ABI highlights for September include:
- Regional averages: South (52.3); West (51.3); Northeast (46.3); Midwest (45.3)
- Sector index breakdown: multi-family residential (53.2); mixed practice (53.0); institutional (48.5); commercial/industrial (45.3)
- Project inquiries index: 59.0
- Design contracts index: 54.4
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 | Feb 15, 2018
United States ranks fourth for renter growth
Renters are on the rise in 21 of the 30 countries examined in RentCafé’s recent study.
Market Data | Feb 1, 2018
Nonresidential construction spending expanded 0.8% in December, brighter days ahead
“The tax cut will further bolster liquidity and confidence, which will ultimately translate into more construction starts and spending,” said ABC Chief Economist Anirban Basu.
Green | Jan 31, 2018
U.S. Green Building Council releases annual top 10 states for LEED green building per capita
Massachusetts tops the list for the second year; New York, Hawaii and Illinois showcase leadership in geographically diverse locations.
Industry Research | Jan 30, 2018
AIA’s Kermit Baker: Five signs of an impending upturn in construction spending
Tax reform implications and rebuilding from natural disasters are among the reasons AIA’s Chief Economist is optimistic for 2018 and 2019.
Market Data | Jan 30, 2018
AIA Consensus Forecast: 4.0% growth for nonresidential construction spending in 2018
The commercial office and retail sectors will lead the way in 2018, with a strong bounce back for education and healthcare.
Market Data | Jan 29, 2018
Year-end data show economy expanded in 2017; Fixed investment surged in fourth quarter
The economy expanded at an annual rate of 2.6% during the fourth quarter of 2017.
Market Data | Jan 25, 2018
Renters are the majority in 42 U.S. cities
Over the past 10 years, the number of renters has increased by 23 million.
Market Data | Jan 24, 2018
HomeUnion names the most and least affordable rental housing markets
Chicago tops the list as the most affordable U.S. metro, while Oakland, Calif., is the most expensive rental market.
Market Data | Jan 12, 2018
Construction input prices inch down in December, Up YOY despite low inflation
Energy prices have been more volatile lately.
Market Data | Jan 4, 2018
Nonresidential construction spending ticks higher in November, down year-over-year
Despite the month-over-month expansion, nonresidential spending fell 1.3 percent from November 2016.
