Architecture Billings Index Surges Higher
Design
firms citing increased productivity
For
immediate release:
Washington,
D.C. – October 23, 2013 – Showing a steady increase in the demand for design services, the
Architecture Billings Index (ABI) continues to accelerate, as it reached its
second highest level of the year.
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 September ABI
score was 54.3,
up from a mark of 53.8 in August. This score reflects an increase in design
services (any score above 50 indicates an increase in billings).
The
new projects inquiry index was 58.6, down from the reading of 63.0 the previous
month.
“The
prolonged economic downturn that has affected the design and construction
industry has actually resulted in the increased productivity levels as reported
by architecture firms,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “In
addition to new approaches to business challenges, a very competitive
marketplace, the utilization of new technologies, and a renewed focus on
efficiency have architecture firms realizing all-time highs in workplace
productivity, and these new efficiencies can greatly benefit clients from a
project timeline and budget standpoint.”
Key
September ABI highlights:
•
Regional averages: West (60.6), South (54.1), Midwest (51.0), Northeast (50.7)
•
Sector index breakdown: commercial / industrial (57.9), multi-family
residential (55.6), mixed practice (55.4), institutional (50.4)
•
Project inquiries index: 58.6
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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