Steel Products
AIA Billings Index Grows for Fifth Straight Month
Written by Sandy Williams
January 25, 2013
Written by: Sandy Williams
The Architecture Billings Index showed growth for the fifth straight month in December. The American Institute of Architects reported the ABI score at 52, down slightly from 53.2 in November. The ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The score reflects an increase in demand for design services with any score above 50 indicating an increase in billing.
Interest in building continues to grow with project inquiries coming in at 59.4—the 47th straight month above the 50 mark.
“While it’s not an across the board recovery, we are hearing a much more positive outlook in terms of demand for design services,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Moving into 2013 we are expecting this trend to continue and conditions improve at a slow and steady rate. That said, we remain concerned that continued uncertainty over the outcomes of budget sequestration and the debt ceiling could impact further economic growth.”
December improvement was greatest in the Northeast and Midwest regions at 53.1 and 55.7, respectively. The South had its sixth straight month above neutral and was reported at 51.2, slightly down from November. The West remained unchanged from November at 49.6.
Commercial billings outdid other sectors for the first time since April earning a score of 53.4. Multifamily residential billings were at 50.5 and have been above the 50 mark for 18 of the past 24 month. Mixed practice billings were at 53.0 and institutional billings were at 50.9 for the fifth consecutive month.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.
HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.