Positive Trend Continues for Architecture Billings Index
All regions and buildings sectors see increasing
demand for design services
For immediate release:
Washington, D.C. –
August 21, 2013 – The Architecture Billings Index (ABI) saw a jump of more
than a full point last month, indicating acceleration in the growth of design
activity nationally. As a leading economic indicator of construction activity,
the ABI reflects the approximate nine to twelve month lead time between
architecture billings and construction spending.
The American Institute of Architects (AIA) reported the July ABI
score was 52.7, up from a mark of 51.6 in June. 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 66.7, up
dramatically from the reading of 62.6 the previous month.
“There continues to be encouraging signs that
the design and construction industry continues to improve,” said AIA Chief
Economist, Kermit Baker, PhD, Hon. AIA. “But we also hear a wide mix of
business conditions all over the country, ranging from outstanding and booming
to slowly improving to flat. In fact, plenty of architecture firms are
reporting very weak business conditions as well, so it is premature to declare
the entire sector has entered an expansion phase.”
Key July ABI highlights:
•
• Regional averages: Northeast (54.3), South
(54.2), West (51.1), Midwest (50.8)
•
• Sector index breakdown: mixed practice (56.9),
commercial / industrial (54.2), multi-family residential (53.3), institutional
(50.6)
•
• Project inquiries index: 66.4
The regional and sector categories are
calculated as a 3-month moving average, whereas the index and inquiries are
monthly numbers.
Contact: Scott Frank
202-626-7467
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