There were a few occasions where demand for design services decreased from a month-to-month basis in 2015, but the Architecture Billings Index (ABI) concluded the year in positive terrain and was so in eight of the 12 months of the year.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine-to-12-month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the December ABI score was 50.9, up from the mark of 49.3 in the previous month. This score reflects a slight increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 60.2, up from a reading of 58.6 the previous month.
Key December ABI highlights:
- Regional averages: West (53.7), South (53.3), Northeast (46.7), Midwest (46.1),
- Sector index breakdown: multi-family residential (52.9), institutional (52.2), commercial/industrial (47.3), mixed practice (46.5)
- Project inquiries index: 60.2
- Design contracts index: 51.0
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.