Architecture firms across the country reported a slight overall increase in billings for the month of February 2011, which could mean good news down the road for the beleaguered construction industry.
The Architectural Billing Index (ABI): Each month, the American Institute of Architects (AIA) surveys architectural firms across the country and uses it to compute the Architecture Billings Index (ABI). The ABI represents the seasonally adjusted percentage of firms reporting a significant (5% or greater) increase or decrease in billings. For instance, an ABI of 50 means that an equal number of firms reported decreases and increases.
Since most architectural design later turns into construction projects, the AIA calls the ABI "a leading economic indicator that leads nonresidential construction activity by approximately 9-12 months."
The ABI in 2011: The ABI was up slightly in February to 50.6 (compared to 50 in January), marking the fourth straight month at 50 or higher - after nearly three years of almost uniformly decreasing billings.
More Resources:
- Architect Magazine coverage of the February ABI, including (at the end of the article) a graph showing the ABI for the past 4 years
- AIA's own write-up of the February ABI, including more detailed information some helpful graphs
Mike Purdy's Public Contracting Blog© 2011 by Michael E. Purdy Associates, LLChttp://PublicContracting.blogspot.com
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