Architecture Billings Index Advances In November
December 21, 2016
For the second month in a row, the Architecture Billings Index showed a small increase in demand for design services.
Following the contraction revealed in August and September’s Index readings, November’s 50.6 showed little change from October’s 50.8.
The ABI reflects the nine-to-12-month lead time between architecture billings and construction spending. Any score above 50 indicates an increase in billings.
Broken out by sector, multifamily residential came in at 51.7, followed by mixed-practice at 51.3, commercial/industrial at 50.4 and institutional at 49.5.
Market uncertainty could be playing a role in the flattened numbers, said American Institute of Architects Chief Economist Kermit Baker, Hon. AIA, PhD.
“Without many details of the policies proposed, it’s still too early to tell the likely impact of the programs of the new administration,” he said. “However, architects will be among the first to see what new construction projects materialize and what current ones get delayed or cancelled, so the coming months should tell us a lot about the future direction of the construction market.”
Other industry voices are a little more bullish in their outlooks. Dodge Data & Analytics is forecasting a 5 percent increase in starts next year, with Commercial starts up 6 percent and Institutional starts up 10 percent. Meanwhile, ConstructConnect is calling for a 6.8 percent overall rise.
Strong Partnership Continues with One Water Street
December 13, 2016
Strong relationships and a string of successes can create a continuous loop of good fortune.
And so it seems to be with PMC Property Group, the architectural firm Varenhorst, R-Tech Panel Systems and Graham Architectural Products.
After teaming up previously, including the 1900 Arch Street project in Philadelphia, the players reunited for One Water Street, …
More Good News On The Economic Front
December 8, 2016
For the tenth time in the past 12 months, the Dodge Momentum Index advanced, rising 0.3 percent in November.
The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning. These reports have been shown to lead construction spending for nonresidential buildings by a full year.
Graham Contributes to “Windy City” Renovation
December 5, 2016
A striking building underwent a dramatic transformation. Graham Architectural Products played a key role. And Architectural Products magazine shared the story with its readers in its November issue (page 92).
An iconic structure on the Chicago River front, this 21-story sky-scraper opened in 1923 as the London Guarantee & Accident Building. Nearly a century later, …