Economy
ABI Back on Track at 50.7 in February
Written by Sandy Williams
March 23, 2017
The Architecture Billings Index increased modestly to 50.7 in February pulling out of its dip into negative territory in January. The new projects Inquiry index was 61.5, up from 60.0 the previous month, and the design contract index climbed to 54.7 from 52.1.
“The sluggish start to the year in architecture firm billings should give way to stronger design activity as the year progresses,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “New project inquiries have been very strong through the first two months of the year, and in February new design contracts at architecture firms posted their largest monthly gain in over two years.”
Index Highlights:
Regional averages: Midwest (52.4), South (50.5), Northeast (50.0), West (47.5)
Sector index breakdown: institutional (51.8), multi-family residential (49.3), mixed practice (49.2), commercial / industrial (48.9)
Project inquiries index: 61.5
Design contracts index: 54.7
About the AIA Architecture Billings Index
The Architecture Billings Index (ABI), produced by the American Institute of Architects, 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 the neutral mark of 50, with scores above 50 indicating growth in billings and scores below 50 indicating a decline.
Below is a graph showing the history of AIA Billings Index and Inquiries Index. You will need to view the graph on our website to use its interactive features, you can do so by clicking here. If you need assistance logging into or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Sandy Williams
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