After seeing consecutive months of contracting demand for the first time in four years, the Architecture Billings Index (ABI) saw a modest increase demand for design services. 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. The American Institute of Architects (AIA) reported the October ABI score was 50.8, up from the mark of 48.4 in the previous month. This score reflects a slight increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 55.4, down sharply from a reading of 59.4 the previous month.
Key October ABI highlights:
- Regional averages: South (53.7), West (49.7), Northeast (47.3) Midwest (46.8)
- Sector index breakdown: multi-family residential (51.2), commercial / industrial (49.8), mixed practice (49.5), institutional (49.1)
- Project inquiries index: 55.4
- Design contracts index: 48.7
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
For the full press release, click here.
Related Stories
Market Data | Oct 4, 2016
Nonresidential spending slips in August
Public sector spending is declining faster than the private sector.
Industry Research | Oct 3, 2016
Structure Tone survey shows cost is still a major barrier to building green
Climate change, resilience and wellness are also growing concerns.
Industry Research | Sep 28, 2016
Worldwide hotel construction shows modest year-over-year growth
Overall construction for hotel projects is up, but the current number of hotels currently being built has dipped slightly from one year ago.
Industry Research | Sep 27, 2016
Sterling Risk Sentiment Index indicates risk exposure perception remains stable in construction industry
Nearly half (45%) of those polled say election year uncertainty has a negative effect on risk perception in the construction market.
Industry Research | Sep 21, 2016
The global penetration of smart meters is expected to reach approximately 53% by the end of 2025
Large-scale smart meter deployments are underway across Western Europe, while new deployments continue among later adopters in the United States.
Industry Research | Sep 12, 2016
Evidence linking classroom design to improved learning mounts
A study finds the impact can be as much as 25% per year.
Healthcare Facilities | Sep 6, 2016
Chicago Faucets releases white paper: Reducing the risk of HAIs in healthcare facilities
The white paper discusses in detail four options used to mitigate transmission of waterborne bacteria
Market Data | Sep 2, 2016
Nonresidential spending inches lower in July while June data is upwardly revised to eight-year record
Nonresidential construction spending has been suppressed over the last year or so with the primary factor being the lack of momentum in public spending.
Industry Research | Sep 1, 2016
CannonDesign releases infographic to better help universities obtain more R&D funding
CannonDesign releases infographic to better help universities obtain more R&D funding.
Industry Research | Aug 25, 2016
Building bonds: The role of 'trusted advisor' is earned not acquired
A trusted advisor acts as a guiding partner over the full course of a professional relationship.
