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Positive Conditions Persist for Architecture Billings Index

Post Time:Apr 19,2012Classify:Industry NewsView:193

 

The commercial sector continues to lead the Architecture Billings Index (ABI), according to information from the American Institute of Architects (AIA) of Washington, D.C. The ABI has remained in positive territory for the fifth consecutive month.

 

"We are starting to hear more about improving conditions in the marketplace, with a greater sense of optimism that there will be greater demand for design services," says Kermit Baker, AIA chief economist. "But that is not across the board and there are still a number of architecture firms struggling so progress is likely to be measured in inches rather than miles for the next few months."

 

Key March ABI highlights include:

 

Regional averages: Midwest (54.1), Northeast (53.9), South (50.1), West (46.6);

Sector index breakdown: commercial / industrial (56.0), multi-family residential (51.9), institutional (47.7), mixed practice (47.2); and

Project inquiries index: 56.6

 

As an economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag time between architecture billings and construction spending. The March ABI score was 50.4, following a mark of 51.0 in February. This score reflects a slight increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 56.6, down from mark of 63.4 the previous month.

 

The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers.

 

Source: http://www.usgnn.comAuthor: shangyi

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