Still Showing Weakness, ABI Increases Slightly
Following a two-month soft patch, the Architecture Billings Index (ABI) rose almost two full points in July. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12 month lag time between architecture billings and construction spending.
The American Institute of Architects (AIA) reported the July ABI score was 47.9, up from a reading of 46.0 the previous month. This score reflects a continued decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index dropped substantially from 57.7 to 53.1.
Key July ABI highlights:
- Regional averages: South (47.9), Northeast (47.2), Midwest (46.7), West (45.2)
- Sector index breakdown: commercial / industrial (50.4), institutional (47.9), multi-family residential (47.5), mixed practice (42.9)
- Project inquiries index: 53.1
“Business conditions at design firms remain quite volatile,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “While this recent uptick is encouraging, this state of the industry is likely to persist for a while as we continue to receive a mixed bag of feedback on the condition of the design market from improving to flat to being paralyzed by uncertainty.”
You might like:
- The Internet Of Things And Water Management
- Look, Listen, And Learn To Find Leaks
- Top 10 States Ranked in Energy Efficiency Scorecard
- Green Buildings Improve Cognitive Function
- Facility Professionals Play Key Role In Strategic Workplace Decisions
- Webinar: Cleaner Facilities & Flu Protection
- Question of the Week: How Do You Support Productivity In Your Facilities?
- Friday Funny: 10 Worst Cities For A Zombie Apocalypse
- Survey Provides Insight To Energy Management Decisions
- Question Of The Week: HVAC Coil Cleaning Methods?
- Did You Miss “The Impact Of Using Defendable Data To Assess & Budget For The Future” Webinar?
- Did You Miss The “Smart Buildings, Internet of Things and What it all Means for Your Career” Webinar?
- China Wins Its First Emporis Skyscraper Award
- Channel Spotlight: Commercial Roofing By Duro-Last Roofing, Inc.
- Motorized Shades Reflect Well On LEED Gold HQ