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
New York state manufacturing falls back into contraction
After a brief pickup in September, manufacturing activity in New York state retreated into contraction, according to the October Empire State Manufacturing Survey.
Dodge Momentum drops on moderating data center growth
Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.
US construction spending drops again in August
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]
ISM: Manufacturing contracts again in September
US manufacturing activity contracted for the sixth consecutive month in September, according to the latest report from the Institute for Supply Management (ISM). The index has indicated a contracting industrial sector for 22 of the past 23 months.
Chicago Business Barometer remains gloomy in September
The Chicago Business Barometer increased marginally in September but continues to indicate deteriorating business conditions.