Economy
ABI Ends 2019 With a Third Increase
Written by Sandy Williams
January 22, 2020
The Architecture Billings Index rose for the third month in a row reaching 52.5 in December, according to the latest report by the American Institute of Architects. A reading above 50 indicates an increase in design services by architecture firms. Indices for new project inquiries and design contracts were positive, at 58.7 and 53.4, respectively.
“Despite the ongoing slowdown in billings in the Northeast, balanced growth across sectors and regions looks more positive for the coming year,” said AIA Chief Economist Kermit Baker. “Factors outside of the construction sector, such as trade policy and international events, could still impact demand for design services. However, recent fears about a downturn in construction activity have largely subsided.”
The three-month averages by region were West (54.0); South (52.2); Midwest (51.9); and Northeast (44.0).
Sector averages were commercial/industrial (54.0); multi-family residential (51.0); mixed practice (50.8); and institutional (50.8)
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.