Steel Markets
ABI Finishes Strong in 2017
Written by Sandy Williams
January 24, 2018
Architecture firms saw increases in billings in 10 out of 12 months last year. December was no exception with an Architecture Billings Index score of 52.9, a decrease from November’s score of 55, but still firmly in growth territory.
Firms reported strong backlogs and inquiries into new projects. The new projects inquiry index registered 61.9, up from a reading of 61.1 in November. The new design contracts index decreased slightly from 53.2 to 52.7.
All regions except the Northeast reported billings growth in December. The South achieved the fifth consecutive year in which billings increased in all 12 months.
“Overall, 2017 turned out to be a strong year for architecture firms. All but two months saw ABI scores in positive territory,” said AIA Chief Economist Kermit Baker. “Additionally, the overall strength of the fourth quarter lays a good foundation for healthy growth in construction activity in 2018.”
Profitability was reported as the biggest concern for architectural firms in 2018, followed by finding qualified new staff.
Key December ABI Highlights:
• Regional averages: West 53.0, Midwest 52.9, South 56.3, and Northeast 49.4.
• Sector Breakdown: Commercial/Industrial 54.8, Institutional 51.2, Mixed Practice 50.4, Multifamily 55.4
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 12-month lead time between architecture billings and construction spending. The survey panel asks participants whether their billings increased, decreased or stayed the same in the month that just ended. The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers. The monthly ABI index scores are centered on 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 the Architecture Billings Index and Induiries 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
Read more from Sandy WilliamsLatest in Steel Markets
Glenfarne Alaska LNG and POSCO ink preliminary partnership
Glenfarne Alaska LNG and POSCO signed a preliminary strategic agreement during the GasTech Conference in Milan on Thursday.
Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...
Hot-rolled market participants say ‘doldrums’ to roll on through year-end
Participants in the hot-rolled steel sheet market expect the market to remain subdued through the end of the year.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
Great Lakes iron ore shipments declined in August
Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]