The Architecture Billings Index (ABI) concluded the year in positive terrain, with the December reading capping off three straight months of growth in design billings.
The American Institute of Architects (AIA) reported the December ABI score was 52.9, down from a score of 55.0 in the previous month. This score still reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings).
The new projects inquiry index was 61.9, up from a reading of 61.1 the previous month, while the new design contracts index decreased slightly from 53.2 to 52.7.
“Overall, 2017 turned out to be a strong year for architecture firms,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “All but two months saw ABI scores in positive territory. Additionally, the overall strength of the fourth quarter lays a good foundation for healthy growth in construction activity in 2018.”
Key December ABI highlights:
• Regional averages: South (56.3), West (53.0), Midwest (52.9), Northeast (49.4)
• Sector index breakdown: multi-family residential (55.4), commercial / industrial (54.8), institutional (51.2), mixed practice (50.4)
• Project inquiries index: 61.9
• Design contracts index: 53.2
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
Architects | Aug 31, 2017
How Instagram is changing the design industry
The digital and physical worlds are colliding. How will social media platforms influence the way we design spaces?
Mixed-Use | Aug 30, 2017
A 50-acre waterfront redevelopment gets under way in Tampa
Nine architects, three interior designers, and nine contractors are involved in this $3 billion project.
AEC Tech | Aug 25, 2017
Software cornucopia: Jacksonville Jaguars’ new practice facility showcases the power of computational design
The project team employed Revit, Rhino, Grasshopper, Kangaroo, and a host of other software applications to design and build this uber-complex sports and entertainment facility.
Multifamily Housing | Aug 24, 2017
Storage units, lounges most popular indoor and outdoor amenities in multifamily developments
Tenants and condo owners crave extra space for their stuff. Most developers are happy to oblige.
Green | Aug 24, 2017
Business case for WELL still developing after first generation office fitouts completed
The costs ranged from 50 cents to $4 per sf, according to a ULI report.
Healthcare Facilities | Aug 24, 2017
7 design elements for creating timeless pediatric health environments
A recently published report by Shepley Bulfinch presents pediatric healthcare environments as “incubators for hospital design innovation.”
BD+C University Course | Aug 23, 2017
AIA course: New steel systems add strength and beauty
Advances in R&D are fostering new forms of structural and aesthetic steel.
Market Data | Aug 23, 2017
Architecture Billings Index growth moderates
“The July figures show the continuation of healthy trends in the construction sector of our economy,” said AIA Chief Economist, Kermit Baker.
Architects | Aug 21, 2017
AIA: Architectural salaries exceed gains in the broader economy
AIA’s latest compensation report finds average compensation for staff positions up 2.8% from early 2015.
Sports and Recreational Facilities | Aug 18, 2017
Video: Designing the ideal rugby stadium
HOK invited four world-class rugby players into its London studio to discuss what they would like to see in the rugby stadiums of the future.
