ABI returns to more modest growth level.After three months of substantial growth, the Architecture Billings Index (ABI Abi (ā`bī) [short for Abijah], in the Bible, King Hezekiah's mother. (Application Binary Interface) A specification for a specific hardware platform combined with the operating system. ) in August receded to a figure more in line with the scores seen throughout the spring. As a leading economic indicator leading economic indicator An economic or a financial variable that tends to move ahead of and in the same direction as general economic activity. Compare lagging economic indicator. See also index of leading economic indicators. of construction activity, the ABI shows an approximate nine to twelve month lag time between architecture billings and construction spending Construction Spending An economic indicator that measures the amount of spending towards new construction. Released monthly by the U.S. Department of Commerce's Census Bureau, it looks at residential and non-residential construction in the private sector, and state and federal at . The American Institute of Architects The American Institute of Architects (AIA) is a professional organization for architects in the United States. Organized in 1857, the Institute conducts various activities and programs to support the profession and enhance its public image, including periodically awarding the AIA (AIA AIA - Application Integration Architecture ) reported the August ABI rating was 53.9, down significantly from the near record 60.0 in July (any score above 50 indicates an increase in billings), and inquiries for new projects was 60.5. This is the biggest drop since September 2006 when the Index dropped from 59.4 to 52.1. "This really shouldn't trigger any concern that demand for nonresidential construction projects will dry up," said AIA chief economist Kermit Baker, PhD, Hon. AIA. Key August ABI highlights: regional averages: Northeast (61.2), West (58.8), South (56.0), Midwest (52.2); sector index breakdown: commercial / industrial (65.0), institutional (51.6), mixed practice (58.2), multi-family residential (48.7); billings inquiries index: 60.5 |
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