Economy
April ABI Falls 3 Points
Written by Sandy Williams
May 20, 2015
Architecture billings took a sharp dive in April. The Architecture Billings Index dropped for the second time this year to a score of 48.8 from 51.7 in March, indicating a decrease in design services. (A score above 50 indicates an increase in billings).
The new projects inquiry index was 60.1 up from 58.2 the previous month. The design contracts index was at 53.1.
“The fundamentals in the design and construction industry remain very healthy,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “The fact that both inquires for new projects and new design contracts continued to accelerate at a healthy pace in April points to strong underlying demand for design activity. However, April would typically be a month where these projects would be in full swing, but a severe winter in many parts of the Northeast and Midwest has apparently delayed progress on projects.”
The regional averages were: South (55.8), West (52.9), Midwest (49.9), and Northeast (43.2).
By sector the breakdown was: institutional (51.8), mixed practice (51.8), multi-family residential (49.0), and commercial/industrial (48.9).
The ABI, published monthly by the American Institute of Architects, reflects the nine to twelve month lead time between architecture billings and construction spending. The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
A history of the American Institute of Architects Billings and Inquiries Indexes can be found on here on our website.
Sandy Williams
Read more from Sandy WilliamsLatest 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.