Slight contraction in Architecture Billings Index for January

Submitted by digital on Wed, 02/17/2016 - 18:06
{"version":"0.3.0","atoms":[],"cards":[],"markups":[["strong"],["a",["href","http:\/\/","target","_new"]]],"sections":[[1,"p",[[0,[0],1,"For immediate release"]]],[1,"p",[[0,[],0,"Washington, D.C. \u2013 February 17, 2016 \u2013 Following a generally positive performance in 2015, the Architecture Billings Index has begun this year modestly dipping back into negative terrain. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the January ABI score was 49.6, down slightly from the mark of 51.3 in the previous month. This score reflects a minor decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 55.3, down from a reading of 60.5 the previous month."]]],[1,"p",[[0,[0],1,"** Every January the AIA research department updates the seasonal factors used to calculate the ABI, resulting in a revision of recent ABI values. **"]]],[1,"p",[[0,[],0,"\u201cThe fundamentals are mostly sound in the nonresidential design and construction market,\u201d said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. \u201cJanuary was a rocky month throughout the economy, with falling oil prices, international economic concerns, and with steep declines in stock market valuations in the U.S. and elsewhere. Some of the fallout of this uncertainty may have affected progress on design projects.\u201d"]]],[1,"h3",[[0,[],0,"Key January ABI highlights: "]]],[3,"ul",[[[0,[],0,""],[0,[],0,"Regional averages: West (50.8), Northeast (50.4), South (50.3), Midwest (48.9)"]],[[0,[],0,"Sector index breakdown: multi-family residential (51.9), commercial\/industrial (50.5), institutional (49.9), mixed practice (49.0)"]],[[0,[],0,"Project inquiries index: 55.3"]],[[0,[],0,"Design contracts index: 50.9"]]]],[1,"p",[[0,[],0,"The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers."]]],[1,"h3",[[0,[],0,"About the AIA Architecture Billings Index"]]],[1,"p",[[0,[],0,"The Architecture Billings Index (ABI), produced by the AIA Economics \u0026 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. The diffusion indexes contained in the full report are derived from a monthly \u201cWork-on-the-Boards\u201d survey that is sent to a panel of AIA member-owned firms. Participants are asked whether their billings increased, decreased, or stayed the same in the month that just ended as compared to the prior month, and the results are then compiled into the ABI. These monthly results are also seasonally adjusted to allow for comparison to prior months. The monthly ABI index scores are centered around 50, with scores above 50 indicating an aggregate increase in billings, and scores below 50 indicating a decline. The regional and sector data are formulated using a three-month moving average. More information on the ABI and the analysis of its relationship to construction activity can be found in the recently released White Paper, Designing the Construction Future: Reviewing the Performance and Extending the Applications of the AIA\u2019s Architecture Billings Index on the AIA web site."]]],[1,"h3",[[0,[],0,"About The American Institute of Architects"]]],[1,"p",[[0,[],0,"Founded in 1857, the American Institute of Architects consistently works to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through nearly 300 state and local chapters, the AIA advocates for public policies that promote economic vitality and public wellbeing. Members adhere to a code of ethics and conduct to ensure the highest professional standards. The AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation and world. Visit "],[0,[1],1,""],[0,[],0,"."]]]]}
Multi-family residential sector improving after sluggish 2015
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Following a generally positive performance in 2015, the Architecture Billings Index has begun 2016 by modestly dipping back into negative terrain.
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