Press Release from AIA…..
Strong Conditions Revealed in Architecture Billings Index - - Increasing
demand for design services fueling recovery for construction industry
For
immediate release:
Washington, D.C. – September 18, 2013 – The Architecture Billings
Index (ABI) showed more 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 August ABI score was 53.8, up from a mark of 52.7 in
July. 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 63.0, down from the reading of 66.4 the previous
month.
“As
business conditions at architecture firms have improved eleven out of the past
twelve months, it is fair to say that the design professions are in a recovery
mode,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “This
upturn signals an impending turnaround in nonresidential construction activity,
but a key component to maintaining this momentum is the ability of businesses
to obtain financing for real estate projects, and for a resolution to the
federal government budget and debt ceiling impasse.”
Key August ABI highlights:
Regional averages:
West (54.8), Northeast
(54.4), Midwest (52.8), South (51.9)
Sector index breakdown:
Mixed practice (60.1),
commercial / industrial (54.8), multi-family residential (52.1), institutional
(50.8)
Project inquiries index: 63.0
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, sfrank@aia.org
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