Economy

ABI Improves Slightly in February
Written by Sandy Williams
March 19, 2015
The Architecture Billings Index inched up slightly in February after falling below the neutral point in January. The ABI, which reflects the nine to twelve month lead time between architecture billings and construction spending, registered 50.4, up from 49.9 the previous month. Any score over 50 indicates an increase in billings.
The ABI has been above 50 for ten of the last twelve months and February’s score indicates a minor increase in design services. The new projects inquiry declined 2.1 points to 56.6 in February.
“The health of the institutional market has been the key factor for positive business conditions for the design and construction industry in recent months, and it is encouraging to see that sector remain on solid footing,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “However, we’re seeing some slowing in the other major construction sectors. Design billings for residential projects had its first negative month in over three years, and commercial design billings have seen only modest growth in recent years.”
Key February ABI highlights:
- Regional averages: South (52.5), Midwest (50.2), Northeast (48.0), West (46.7)
- Sector index breakdown: institutional (52.2), commercial / industrial (51.4), multi-family residential (48.9), mixed practice (45.3)
- Project inquiries index: 56.6
- Design contracts index: 50.0
The ABI is published by the American Institute of Architects. Regional and sector categories are a 3 month moving average. The national index, design contracts and inquiries are monthly numbers.
Below is an interactive graphic of the AIA Architecture Billings Index History, but it can only be seen when you are logged into the website and reading the newsletter online. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.
{amchart id=”64″ AIA ABI Index}

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

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.

Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.

Multi-family pullback drives housing starts to 5-year low in May
US housing starts tumbled in May to a five-year low, according to figures recently released by the US Census Bureau.

Architecture firms still struggling, ABI data shows
Architecture firms reported a modest improvement in billings through May, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.