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Architecture Billings Index Reverts to Negative
Territory Decline is possibly a brief pause from unusually strong winter
activity
Territory Decline is possibly a brief pause from unusually strong winter
activity
Contact: Scott Frank,
202-626-7467,
sfrank@aia.org
sfrank@aia.org
For
immediate release:
immediate release:
Washington, D.C. – May 16, 2012 – After five months of positive
readings, the Architecture Billings Index (ABI) has fallen into negative
terrain. 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.
readings, the Architecture Billings Index (ABI) has fallen into negative
terrain. 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 April ABI score was 48.4, following a mark of 50.4 in March. This
score reflects a decrease in demand for design services (any score above 50
indicates an increase in billings).
American Institute of Architects (AIA) reported the April ABI score was 48.4, following a mark of 50.4 in March. This
score reflects a decrease in demand for design services (any score above 50
indicates an increase in billings).
The
new projects inquiry index was 54.4, down from mark of 56.6 the previous month.
new projects inquiry index was 54.4, down from mark of 56.6 the previous month.
“Considering
the continued volatility in the overall economy, this decline in demand for
design services isn’t terribly surprising,” said AIA Chief Economist, Kermit
Baker, PhD, Hon. AIA. “Also, favorable conditions during the winter
months may have accelerated design billings, producing a pause in projects that
have moved ahead faster than expected.”
the continued volatility in the overall economy, this decline in demand for
design services isn’t terribly surprising,” said AIA Chief Economist, Kermit
Baker, PhD, Hon. AIA. “Also, favorable conditions during the winter
months may have accelerated design billings, producing a pause in projects that
have moved ahead faster than expected.”
Key April ABI highlights:
Regional averages:
•
Northeast (51.0),
Northeast (51.0),
•
Midwest (50.1),
Midwest (50.1),
•
South (49.0),
South (49.0),
•
West (48.0)
West (48.0)
Sector index breakdown:
-commercial / industrial
(53.8),
(53.8),
-multi-family residential
(50.5),
(50.5),
-institutional (46.6),
-mixed practice (45.0)
Project inquiries index: 54.4
The
regional and sector categories are calculated as a 3-month moving average,
whereas the index and inquiries are monthly numbers.
regional and sector categories are calculated as a 3-month moving average,
whereas the index and inquiries are monthly numbers.
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