Industry News




 

03/01/2010

Architecture Billings Index Drops Significantly

 

Beginning its third year of negative conditions, the Architecture Billings Index (ABI), which reflects the approximate 9- to 12-month lag time between architecture billings and construction spending, dropped nearly 3 points in January.

The American Institute of Architects (AIA) reported the January ABI rating was 42.5, down sharply from a revised reading of 45.4 in December. The ABI is a leading economic indicator of construction activity, and this rating indicates a continued decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry score was 52.5, down more than 7 points, but still indicating an increase in billings.

“Projects are being delayed or cancelled because lending institutions are placing unusually stringent equity requirements on new developments. This is even happening to financially sound companies with strong credit ratings,” says Kermit Baker, chief economist for AIA. “This serious situation is being compounded by a skittish bond market, decreased tax revenues for publicly financed projects, and declining property values – all which serve as deterrents for construction activity. Until these factors are resolved, the design and construction industry – which accounts for roughly 10 percent of GDP and is facing unemployment figures in excess of 20 percent – will continue to face deteriorating market conditions.”

Additionally, the January ABI showed regional averages for the Midwest to be 48.0; for the Northeast, 45.7; for the South, 41.32; and for the West, 40.5. The January ABI rating for the multi-family residential sector was 50.1; commercial/industrial, 44.9; institutional, 43.1; and mixed-practice, 40.3.

 


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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.

Add highly responsive multi-zone comfort to any building project, in any climate. Our CITY MULTI H2i R2- and Y-Series VRF systems give you flexibility to fit the needs of any building. Enjoy 100% heating capacity at 0°F outdoor ambient, and 85% heating capacity at -13°F outdoor ambient.  For more information, log on to www.mitsubishipro.com

 
11/24/2014

EPA challenge to increase diversion rates for the holidays.

11/21/2014

Framework allows users a better look at roofing's environmental impact.

11/20/2014

Study finds paper towel dispensers carry far fewer germs.

11/19/2014

Tool will help manage information during power outages.

11/18/2014

Requirements include energy, IEQ, and sustainability updates.

11/17/2014

Group of 17 properties earn energy efficiency designation.

11/14/2014

Water conservation efforts see results.

11/13/2014

Study shows sustainable investments weather the winter.

11/12/2014

Standard focuses on occupant health.

11/11/2014

EPA says cleanup will cost hundreds of thousands of dollars.

11/10/2014

Methane will be used as a fuel source.

11/07/2014

ASTM to target roofing material diversion rates. 

11/06/2014

ORNL scientists look to the future of renewable energy integration.

11/05/2014

Lawsuits unlikely to convince polluters to change opposition to legislative reform. 

11/04/2014

Green building investment jumps in 2013. 

11/03/2014

Study shows difference between reported and measured occupant behavior

10/31/2014

Report shows energy modeling as key to improving building performance

10/30/2014

Report shows healthy features and practices yield results.

10/29/2014

USGBC announces two more years to prepare for LEED v4.

10/28/2014

Current projects could replace up to 8% of the Army’s energy use.

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