Starting the year on a strong note, architecture firm billings growth strengthened in January to a level not seen in the previous 12 months, according to a new report released today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for January was 55.3, compared to 51.0 in December. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts, also strengthened in January.
“The government shutdown affected architecture firms, but doesn’t appear to have created a slowdown in the profession,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “While AIA did hear from a few firms that were experiencing significant cash flow issues due to the shutdown, the data suggests that the majority of firms had no long-term impact.”
Key ABI highlights for January include:
Regional averages: South (54.7), Midwest (54.4), Northeast (52.4), West (51.5)
Sector index breakdown: mixed practice (53.8), institutional (52.9), commercial/industrial (52.6), multi-family residential (52.6)
Project inquiries index: 59.6
Design contracts index: 53.8
Related Stories
Multifamily Housing | Aug 12, 2016
Apartment completions in largest metros on pace to increase by 50% in 2016
Texas is leading this multifamily construction boom, according to latest RENTCafé estimates.
Market Data | Jul 29, 2016
ABC: Output expands, but nonresidential fixed investment falters
Nonresidential fixed investment fell for a third consecutive quarter, as indicated by Bureau of Economic Analysis data.
Industry Research | Jul 26, 2016
AIA consensus forecast sees construction spending on rise through next year
But several factors could make the industry downshift.
Architects | Jul 20, 2016
AIA: Architecture Billings Index remains on solid footing
The June ABI score was down from May, but the figure was positive for the fifth consecutive month.
Market Data | Jul 7, 2016
Airbnb alleged to worsen housing crunch in New York City
Allegedly removing thousands of housing units from market, driving up rents.
Market Data | Jul 6, 2016
Construction spending falls 0.8% from April to May
The private and public sectors have a combined estimated seasonally adjusted annual rate of $1.14 trillion.
Market Data | Jul 6, 2016
A thriving economy and influx of businesses spur construction in downtown Seattle
Development investment is twice what it was five years ago.
Multifamily Housing | Jul 5, 2016
Apartments continue to shrink, rents continue to rise
Latest survey by RENTCafé tracks size changes in 95 metros.
Multifamily Housing | Jun 22, 2016
Can multifamily construction keep up with projected demand?
The Joint Center for Housing Studies’ latest disection of America’s housing market finds moderate- and low-priced rentals in short supply.
Contractors | Jun 21, 2016
Bigness counts when it comes to construction backlogs
Large companies that can attract talent are better able to commit to more work, according to a national trade group for builders and contractors.
