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.

 


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.

Bluebeam® Revu® simplifies digital facilities document management from design review to leveraging as-builts, maintenance manuals and O&Ms submittals.

Yaskawa drives offer quality performance for air handlers and cooling towers on the roof to secondary chilled water pumps in the basement

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.


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.

Bluebeam® Revu® simplifies digital facilities document management from design review to leveraging as-builts, maintenance manuals and O&Ms submittals.

Yaskawa drives offer quality performance for air handlers and cooling towers on the roof to secondary chilled water pumps in the basement

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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The 2014 World Cup welcomes six LEED-certified arenas.

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An updated study now observes local consequences.

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New survey reveals increasing interest in off-site work.

06/04/2014

Gain ground on sustainability goals.

05/30/2014

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Saving money through energy management strategies in Canadian healthcare institutions just got easier.

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A recent study has revealed that the bacteria Legionella, commonly found in fresh water, is able to survive in certain automobile windshield washer fluids.

05/21/2014

Industrial symbiosis is essential to a company’s environmental efforts and can even drive profits.

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