For immediate release:
Washington, D.C. – July 24, 2013 – The Architecture Billings Index (ABI) remained positive again in
June after the first decline in ten months in April. As a leading economic
indicator of construction activity, the ABI reflects the approximate nine to
twelve month lag time between architecture billings and construction spending.
The American Institute of Architects (AIA)
reported the June ABI score was 51.6, down from a mark of 52.9 in May. This
score reflects an increase in demand for design services (any score above 50
indicates an increase in billings).
The new projects inquiry index was 62.6, up
sharply from the reading of 59.1 the previous month.
“With steady demand for design work in all
major nonresidential building categories, the construction sector seems to be
stabilizing,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA.
“Threats to a sustained recovery include construction costs and labor
availability, inability to access financing for real estate projects, and
possible adverse effects in the coming months from sequestration and the
looming federal debt ceiling debate.”
Key June ABI highlights:
Regional averages: Northeast (55.6), South
(54.8), West (51.2), Midwest (48.3)
Sector index breakdown: commercial / industrial
(54.7), multi-family residential (54.0), mixed practice (52.4), institutional
(51.8)
Project inquiries index: 62.6
The regional and sector categories are
calculated as a 3-month moving average, whereas the index and inquiries are
monthly numbers.
No comments:
Post a Comment