Economy
ABI Slips in April but Remains in Growth Territory at 50.6
Written by Sandy Williams
May 18, 2016
The Architecture Billings Index score was 50.6 in April, down from 51.9 in March. It is the third consecutive month the Index has been above 50 indicating increasing demand for design activity at architectural firms. The new projects inquiry index was 56.9 compared 58.1 last month.
“Architects continue to report a wide range of business conditions, with unusually high variation in design activity across the major building categories,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “The strong growth in design contracts – the strongest score for this indicator since last summer — certainly suggests that firms will be reporting growth in billings over the next several months.”
Key April ABI highlights:
- Regional averages: South (52.2), Northeast (51.5), West (50.8), Midwest (50.8)
- Sector index breakdown: multi-family residential (53.7), commercial / industrial (52.0), mixed practice (50.0), institutional (49.0)
- Project inquiries index: 56.9
- Design contracts index: 54.3
About the AIA Architecture Billings Index
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. The monthly ABI index scores are centered around 50, with scores above 50 indicating an aggregate increase in billings, and scores below 50 indicating a decline.
Below is a graph showing the history of the Architecture Billings and Inquiries Indices. 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
Hot-rolled spot market conditions linger, prices slip
Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.
Dodge Momentum Index surges in July
The Dodge Momentum Index (DMI) jumped 20.8% in July and is now up 27% year-to-date, according to the latest data released by Dodge Construction Network.
ISM: Manufacturing growth slows in July, hits 10-month low
US manufacturing activity slowed again in July to a 10-month low
CRU: Pushing EU imports back to 15% would be a big task
Several EU member states have published a ‘non-paper’ that puts forward proposals for a post-safeguard trade measure.
SMU Community Chat: Tariff-induced panic purchases, inflation, and calculating costs
Chief executive of the Institute for Supply Management (ISM), Tom Derry highlighted how reactive buying behavior has shifted the market into a quiet demand period. Derry presented ISM data during the weekly SMU community chat.