Despite a few volatile months, the US Architecture Billings Index (ABI) concluded 2015in positive terrain. The American Institute of Architects (AIA) reported the December ABI score was 50.9, up from the mark of 49.3 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 60.2, up from a reading of 58.6 the previous month.
“As has been the case for the past several years, there continues to be a mix of business conditions that architecture firms are experiencing,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Overall, however, ABIscores for 2015 averaged just below the strong showing in 2014, which points to another healthy year for construction this year.”
- South (53.3)
- West (53.7)
- Midwest (46.1)
- Northeast (46.7)
Sector Index Breakdown
- Multi-family residential (52.9)
- Mixed practice (46.5)
- Commercial / Industrial (47.3)
- Institutional (52.2)
Key October ABI Highlights
- Project inquiries index: 60.2
- Design contracts index: 51.0
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. Regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers. Any score above 50 reflects an increase in design services.
News via AIA