The Architecture Billings Index (ABI) is a leading economic indicator for nonresidential construction activity, with a lead time of approximately 9–12 months. The index is derived from The American Institute of Architects (AIA) Work-on-the-Boards survey, which has gathered data on shifts in billings from architectural firm leaders for over 20 years.
The Most Recent Numbers - Reported in April 2017
- Regional averages: Midwest (54.6), South (52.6), Northeast (52.4), West (50.2)
- For the first time in nine months, billings in the West were greater than the month prior.
- Multi-family projects see very strong activity.
- Slight decline in Commercial/Industrial.
Interpreting the ABI:
The survey panel asks participating architectural firms whether billings increased, decreased or stayed the same in the month that just ended. According to the proportion of respondents choosing each option, a score is generated, which represents an index value for each month.
- An index score of 50 indicates no change in firm billings versus the previous month.
- A score above 50 indicates an increase in firm billings versus the previous month.
- A score below 50 indicates an decrease in firm billings versus the previous month.
- NOTE: Index numbers cited for the last three reported months are preliminary.
- The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
National Architecture Billings Index
Source: The American Institute of Architects (AIA)
Regional Architecture Billings Index
Source: The American Institute of Architects (AIA)
Sector-Specific Architecture Billings Index
Commercial/Industrial
Buildings related to commerce and industry. Office space, banks, retail, factories, etc.
Institutional
Schools, civic/government buildings, museums, hospitals, etc.
Multifamily Residential
Town homes, apartment complexes, condominiums, etc.
Mixed Practice
Buildings that include both residential and commercial/industrial spaces.
Source: The American Institute of Architects (AIA)
