Industry News




08/21/2009

Architecture Billings Index Bounces Back After Substantial Dip

 

The Architecture Billings Index (ABI), a leading economic indicator of construction activity, was up almost 6 points in July following a 5-point dip the previous month. The ABI reflects the approximate 9 to 12 month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported that the July ABI rating was 43.1, up significantly from 37.7 the month prior, but still indicating a decline in demand for design services.

“It is always encouraging to see an uptick in our index, but there has been too much contraction in recent months to get overly optimistic about business conditions returning to levels they were at two months ago,” says Kermit Baker, chief economist at AIA. “In addition to a very competitive marketplace, architects continue to report that lenders have still not yet fully opened credit lines and that the stimulus funding has so far provided limited project activity for the design community overall.”

Other highlights from the July ABI rating include: The new projects inquiry score fell from 53.8 to 50.3, but it was the fifth straight month with a score in above 50 (any score above 50 indicates an increase in billings). Also, the regional average for the South was 43.4; for the West, 39.7; for the Northeast, 37.8; and for the Midwest, 36.9. The mixed-practice sector had an ABI rating of 42.9; commercial/industrial had a rating of 42.9; multi-family residential, 40.7; and institutional, 37.1.

 


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Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.

When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality. 

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


 
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