Architecture Firms Increased in November

 

Architecture Billings Index, produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine to 12 month glimpse into the future of nonresidential construction spending activity. The monthly ABI index scores are centered around 50, with scores above 50 indicating an aggregate increase in billings, and scores below 50 indicating a decline. The regional and sector data are formulated using a three-month moving average.
Courtesy of AIA

Regional revenue trends also are very encouraging. Firms in the Northeast, Midwest and South all reported billings increases in November. The billings index for firms in the West increased 2.5 points in November, but since the index for this region remains below 50, it still reflected a modest decline from October levels, according to Kermit Baker, Hon. AIA Chief Economist.

The recent report on regional economic conditions by the Federal Reserve Board painted a generally negative, although mixed, picture of the commercial real estate markets. According to this report, the New York, Atlanta, and Kansas City districts noted some weakening in nonresidential activity, while the Boston and Dallas districts indicated some modest improvement. Boston, Richmond, Kansas City and Dallas expressed optimism about the near-term outlook.

Healthcare continues to be strong in California, and education is seeing more opportunities for proposals, according to a 220-person firm in the West.

– Courtesy of AIA