Economy
ABI Closes Q1 on a Positive Note
Written by Sandy Williams
April 25, 2016
The American Institute of Architects (AIA) reported the March ABI score was 51.9, up from 50.3 February and indicating an increase in design services. The new projects inquiry index was 58.1, down from a reading of 59.5 the previous month.
“The first quarter was somewhat disappointing in terms of the growth of design activity, but fortunately expanded a bit entering the traditionally busy spring season. The Midwest is lagging behind the other regions, but otherwise business conditions are generally healthy across the country,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “As the institutional market has cooled somewhat after a surge in design activity a year ago, the multi-family sector is reaccelerating at a healthy pace.”
Key March ABI highlights:
• Regional averages: South (52.4), Northeast (51.0), West (50.4), Midwest (49.8)
• Sector index breakdown: multi-family residential (55.7), commercial / industrial (51.8), mixed practice (50.0), institutional (48.0)
• Project inquiries index: 58.1
• Design contracts index: 51.8
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 Index and 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
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.
Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them