Economy
Architect Confidence Reflected in Higher ABI Score
Written by Sandy Williams
December 21, 2017
The American Institute of Architects’ Architecture Billings Index (ABI) rose to 55.0 in December from a reading of 51.7 in November, reflecting an increase in design services provided by U.S. architecture firms. The new projects inquiry index was 61.1, up from a reading of 60.2 the previous month, while the new design contracts index rose slightly from 52.8 to 53.2.
“Not only are design billings overall seeing their strongest growth of the year, the strength is reflected in all major regions and construction sectors,” said AIA Chief Economist Kermit Baker. “The construction industry continues to show surprising momentum heading into 2018.”
Key November ABI highlights:
• Regional averages: West (54.8), Northeast (52.8), South (52.8), Midwest (50.4)
• Sector index breakdown: multi-family residential (53.9), mixed practice (53.6), commercial/industrial (53.3), institutional (52.4)
About the AIA Architecture Billings Index: The Architecture Billings Index, 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 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 Inquiries Index. To use the interactive features, view the graph on our website 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 Economy
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.