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U.S. Architecture Billings Index Enjoys Fifth Consecutive Monthly Gain in December 2012
According to the American Institute of Architects (AIA), business conditions at architecture firms continue to improve. To validate their point, today the American Institute of Architects (AIA) reports the December ABI score was 52.0, down from the mark of 53.2 in November. 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 59.4, down slightly from the 59.6 mark of the previous month.
"While it's not an across the board recovery, we are hearing a much more positive outlook in terms of demand for design services," said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. "Moving into 2013 we are expecting this trend to continue and conditions improve at a slow and steady rate. That said, we remain concerned that continued uncertainty over the outcomes of budget sequestration and the debt ceiling could impact further economic growth."
Key December ABI highlights:
The AIA's Architecture Billings Index (ABI) reflects the approximate nine to twelve month lag time between architecture billings and construction spending, and is considered by many as a leading economic indicator of construction activity.
- Regional averages: Midwest (55.7), Northeast (53.1), South (51.2), West (49.6)
- Sector index breakdown: commercial / industrial (53.4), mixed practice (53.0), institutional (50.9), multi-family residential (50.5)
- Project inquiries index: 59.4
The AIA's Architecture Billings Index (ABI) reflects the approximate nine to twelve month lag time between architecture billings and construction spending, and is considered by many as a leading economic indicator of construction activity.
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