Architecture Billings End Year on Positive Note
January 24, 2018
2018 Construction Activity on Good Footing
“The overall strength of the fourth quarter lays a good foundation for healthy growth in construction activity in 2018,” said American Institute of Architects Chief Economist Kermit Baker, Hon. AIA, describing the release of the December 2017 Architecture Billings Index (ABI).
The December ABI score was 52.9, down from a score of 55.0 in the previous month, though any score above 50 indicates an increase in billings. The new projects inquiry index gained 0.8 points from November, reaching 61.9. The new design contracts index decreased slightly from 53.2 to 52.7.
The monthly ABI is a leading economic indicator of construction activity in the U.S., and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally, and regionally, as well as by project type.
Baker added, “Overall, 2017 turned out to be a strong year for architecture firms. All but two months saw ABI scores in positive territory.”