Economy
ABI Ends 2015 on a Positive Note
Written by Sandy Williams
January 20, 2016
The American Institute of Architects called 2015 a healthy year for construction. In eight of the twelve months last year the Architecture Billings Index (ABI) posted scores above the 50, indicating an increase in design services.
The December ABI was 50.9, up from 49.3 in November. The new projects inquiry index gained 1.6 points to register at 60.2.
“As has been the case for the past several years, there continues to be a mix of business conditions that architecture firms are experiencing,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Overall, however, ABI scores for 2015 averaged just below the strong showing in 2014, which points to another healthy year for construction this year.”
Key December ABI highlights
Regional averages: West (53.7), South (53.3), Northeast (46.7), Midwest (46.1),
Sector index breakdown: multi-family residential (52.9), institutional (52.2), commercial/industrial (47.3), mixed practice (46.5)
Project inquiries index: 60.2
Design contracts index: 51.0
The Architecture Billings Index 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 American Institute of Architects ABI Index and Project 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 Williams
Read more from Sandy WilliamsLatest in Economy
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.