Architectural Billing Index Slips in January
February 26, 2016
The Architecture Billings Index (ABI), an indicator of U.S. non-residential building activity, kicked off 2016 by dipping slightly into negative territory.
In reflecting the approximate nine-to-twelve-month lead time between architecture billings and construction spending, the ABI is considered a leading economic indicator of construction activity. It is released monthly by the American Institute of Architects (AIA).
The January ABI score of 49.6 slipped down from January’s 51.3. 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. Regional averages were as follows: West (50.8), Northeast (50.4), South (50.3), Midwest (48.9).
According to AIA Chief Economist Kermit Baker, Hon. AIA, PhD., “The fundamentals are mostly sound in the nonresidential design and construction market. January 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.”
GAP Plays Key Role in Repurposing of Abandoned Mill
February 18, 2016
Loom City Lofts, a project that struggled to get off the ground for more than a decade, recently marked its grand opening in grand style, with stately windows from Graham Architectural Products overlooking it all.
Connecticut Governor Dannel P. Malloy joined state and local officials in celebrating the official unveiling of the revitalized former mill …
Changes to NFRC Certification Cycle Coming March 1
February 15, 2016
The National Fenestration Rating Council’s fenestration product certification cycle extends to five years from four, beginning March 1, 2016.
However, the five-year certification cycle will not be retroactive and will apply only to products certified or recertified on or after March 1.
NFRC’s board of directors approved the change October 30, 2015. In the meantime, …
Graham Announces Promotions, Organizational Changes
February 9, 2016
Graham Architectural Products announces a number of personnel developments and an organizational change. Jeff Cooper has been promoted to the position of vice president – information technology for Graham Capital.
January Construction Picture “Solid”
February 8, 2016
The construction industry enjoyed a solid start to the new year, as reflected in the recent release of economic indicators.
The Dodge Momentum Index rose 2.4 percent in January according to Dodge Data & Analytics and January construction hiring showed little month-to-month change according to the U.S. Bureau of Labor Statistics.
The bump in the …