Economy
AIA Billings Index Softens in January
Written by Brett Linton
February 18, 2015
The American Institute of Architects (AIA) released their Architecture Billings Index (ABI) score for the month of January on Wednesday this week, reporting that the latest index is at a nine month low. The ABI score for January was 49.9, down 2.8 points from December’s score of 52.7. Note that the index is centered around 50, with scores above 50 indicating an aggregate increase in billings, and scores below 50 indicating a decline.
“This easing in demand for design services is a bit of a surprise given the overall strength of the market over the past nine months,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Likely some of this can be attributed to severe weather conditions in January. We will have a better sense if there is a reason for more serious concern over the next couple of months.”
The Project Inquiries Index was 58.7 in January, down from 59.1 the previous month.
Below is the press release from the American Institute of Architects:
Slowdown Likely a Result of Winter Weather Conditions
Washington, D.C. – February 18, 2015 – Following a nine-month stretch of positive billings, the Architecture Billings Index (ABI) showed no increase in design activity in January. 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 January ABI score was 49.9, down from a mark of 52.7 in December. This score reflects a very modest decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, down from a reading of 59.1 the previous month….
To read the full press release from The American Institute of Architects, visit their website.
Brett Linton
Read more from Brett LintonLatest in Economy
Beige Book: Tariff pressures mount, flat outlook
All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”
Steel exports recovered in May but still historically low
US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.
AISI: Raw steel production ticks up near recent high
The volume of raw steel produced by US mills inched higher last week, according to the American Iron and Steel Institute (AISI). After steadily increasing in April and May, domestic mill output stabilized in early June and has remained historically strong since.
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.