Architecture Billings Index holds steady for Q1
The ABI remained virtually unchanged and close to the break-even level for the first quarter of 2011.
The first quarter of 2011 has seen the Architecture Billings Index (ABI) remain virtually unchanged and right at, or slightly above, the break-even level. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the March ABI score was 50.5, a negligible decrease from a reading of 50.6 the previous month. This score reflects a modest increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, up significantly from a mark of 56.4 in February.
“Currently, architecture firms are essentially caught swimming upstream in a situation where demand is not falling back into the negative territory, but also not exhibiting the same pace of increases seen at the end of 2010,” AIA Chief Economist Kermit Baker said. “The range of conditions reported continues to span a very wide spectrum with some firms reporting an improving business environment and even ramping up staffing, while others continue to operate in survival mode. The catalyst for a more robust recovery is likely financing, with stronger growth occurring only when lending institutions begin approving credit for construction projects with much greater regularity.”
Key March ABI highlights:
- Regional averages: Midwest (53.5), Northeast (51.4), West (50.6), South (49.7)
- Sector index breakdown: commercial/industrial (54.7), multi-family residential (50.8), mixed practice (49.8), institutional (48.0)
- Project inquiries index: 58.7
- Related News:
Architecture billings fall after recent uptick - 28.10.2011 13:12- August Architecture Billings Index rises - 21.09.2011 14:45
- Machine vision market soared 54% in North America in 2010 - 31.05.2011 12:28
- AIA announces first-year energy data - 12.05.2011 15:29
- Green building materials demand to expand 13% - 02.05.2011 12:37
- AIA's guide for sustainable projects due out in May 2011 - 14.04.2011 15:21
- AIA's 2011 COTE top ten green projects selected - 14.04.2011 14:57
- Architecture Billings Index shows nominal increase - 23.03.2011 11:11
- U.S. Architecture Billings Index falls in January - 24.02.2011 10:49
Case Study Database
Get more exposure for your case study by uploading it to the Consulting-Specifying Engineer case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.
These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.
Click here to visit the Case Study Database and upload your case study.
