Economy
Architecture Billings Slow in September
Written by Sandy Williams
October 26, 2018
Architecture firms report that billings slowed in September, but new projects are expected in the coming months. The AIA Architecture Billings Index score was 51.1 last month, down from 54.2 in August.
“Similar to the strong conditions we’ve seen nationally, architecture firms located in the Midwest and Southern regions of the country continued to report very strong billings in September,” said AIA Chief Economist Kermit Baker. “However, billings were soft at firms located in the Northeast again, where they have declined or been flat for the entire year so far.”
AIA’s projects inquiry index was 58.8 and the design contracts index 54.1.
The regional averages were: Midwest (59.7), South (54.1), West (53.1), Northeast (46.6)
The sector index breakdown: institutional (55.1), multi-family residential (54.9), mixed practice (53.4), and commercial/industrial (50.8)
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.
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.