Demand for architecture design services fell again in November. The Architecture Billings Index score was 49.3, down from 53.1 in October and 53.7 in September. The Index has been up and down throughout 2015. The new projects inquiry index was 58.6, up just barely from 58.5 in October.
“Since architecture firms continue to report that they are bringing in new projects, this volatility in billings doesn’t seem to reflect any underlying weakness in the construction sector,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Rather, it could reflect the uncertainty of moving ahead with projects given the continued tightness in construction financing and the growing labor shortage problem gripping the entire design and construction industries.”
Key November ABI highlights:
Regional averages: South (55.4), West (54.5), Midwest (47.8), Northeast (46.2)
Sector index breakdown: multi-family residential (53.8), institutional (52.0), commercial / industrial (51.0), mixed practice (47.6)
The Architecture Billings Index (ABI) is considered a leading economic indicator of construction activity, and reflects the approximate 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.
Below is a graph showing the history of the Architecture Billings Index and Inquiries Index. You will need to view the graph on our website to use it’s interactive features, you can do so by clicking here. If you need assistance with either logging in or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Sandy WilliamsRead more from Sandy Williams
Latest in Economy
ISM: Manufacturing contracts again in February
US manufacturing activity continued to slump in February, contracting for the 16 consecutive month, according to the latest report from the Institute for Supply Management.
AISI tells Congress to tighten trade legislation
The American Iron and Steel Institute (AISI) is urging Congress to strengthen US trade laws. Specifically, Kevin Dempsey, president and CEO of AISI, asked Congress to incorporate the provisions of the Leveling the Playing Field 2.0 Act in any trade legislation that moves forward this year.
Metalformers’ outlook brightens in February: PMA
Metalformers expressed increased optimism about business activity this month, according to the February 2024 Precision Metalforming Association (PMA) Business Conditions Report.
AISI explains new PM2.5 air-quality regulation’s impact on steel
The US already had strict regulations on air-quality standards for particulate matter, but they are going to get even tighter.
Architecture Billings Index remains soft in January
The Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a slight uptick in January but continued to signal soft conditions. The index inched up from 45.4 in December to 46.2 in January. While the index has moved higher consecutively each month since October, it remains in contraction territory. […]