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 17, 2015
Historic power plant converted to modern offices in Minnesota
A landmark power plant in Owatonna, Minn., damaged in a 2010 flood has new life as the headquarters of Owatonna Public Utilities following a renovation by architects Leo A. Daly.
High-rise Construction | Aug 11, 2015
Calatrava's Turning Torso wins CTBUH's 10 Year Award
The 623-foot, 57-story tower was the world's first twisting skyscraper. Completed in 2005, the building, designed by Santiago Calatrava, rotates 90 degrees along its height.
Architects | Aug 11, 2015
Architecture firm compensation trending upwards
Latest AIA compensation survey finds average compensation for staff positions up 3.5 percent from early 2013
Architects | Aug 11, 2015
12 architecture schools join NCARB's 'speedy path to licensure' program
For architecture students, a license to practice may soon be available as early as graduation day
Architects | Aug 10, 2015
HDR expands its Canadian presence through merger with CEI Architecture
Public-private partnerships are expected to be one of the combined entity’s strengths.
Retail Centers | Aug 10, 2015
Walgreens’ flagship in Hawaii harkens back to the island’s fishing culture
A house where canoes were made served as the model for this drug superstore’s design.
Giants 400 | Aug 7, 2015
GOVERNMENT SECTOR GIANTS: Public sector spending even more cautiously on buildings
AEC firms that do government work say their public-sector clients have been going smaller to save money on construction projects, according to BD+C's 2015 Giants 300 report.
Giants 400 | Aug 7, 2015
K-12 SCHOOL SECTOR GIANTS: To succeed, school design must replicate real-world environments
Whether new or reconstructed, schools must meet new demands that emanate from the real world and rapidly adapt to different instructional and learning modes, according to BD+C's 2015 Giants 300 report.
Giants 400 | Aug 7, 2015
MULTIFAMILY AEC GIANTS: Slowdown prompts developers to ask: Will the luxury rentals boom hold?
For the last three years, rental apartments have occupied the hot corner in residential construction, as younger people gravitated toward renting to be closer to urban centers and jobs. But at around 360,000 annual starts, multifamily might be peaking, according to BD+C's 2015 Giants 300 report.
Giants 400 | Aug 7, 2015
UNIVERSITY SECTOR GIANTS: Collaboration, creativity, technology—hallmarks of today’s campus facilities
At a time when competition for the cream of the student/faculty crop is intensifying, colleges and universities must recognize that students and parents are coming to expect an education environment that foments collaboration, according to BD+C's 2015 Giants 300 report.
