ABI “Points to Another Healthy Year” in 2016
January 26, 2016
The Architecture Billings Index (ABI) score for December showed an increase over November, marking the eighth month out of the past 12 that demand for design services showed an increase over the previous month.
The Architecture Billings Index (ABI), produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine-to-twelve-month glimpse into the future of nonresidential construction spending activity.
According to a release, American Institute of Architects (AIA) Chief Economist Kermit Baker, Hon. AIA, PhD., said, “As has been the case for the past several years, there continues to be a mix of business conditions that architecture firms are experiencing. Overall, however, ABI scores for 2015 averaged just below the strong showing in 2014, which points to another healthy year for construction this year.”
Specifically, the AIA reported a December ABI score of 50.9, a notch above November’s 49.3. The release explained, “This score reflects a slight increase in design services (any score above 50 indicates an increase in billings).”
Activity over the final three months of 2015 was particularly high in the West (53.7) and South (53.3) and in the multi-family residential (52.9) and institutional (52.2) sectors.