ABI falls back (March 2009)

by Jonathan McGaha | February 28, 2009 12:00 am

The American Institute of Architects, Washington, D.C., reported the January ABI rating was back down to a historically low level after being up slightly in December 2008. The ABI rating for January was 33.3, down from 34.1 in December 2008. Any score above 50 indicates an increase in billings. Every January the AIA research department uses a formula from the Department of Commerce that re-estimates ABI data based on seasonal factors resulting in a recalibration of recent figures. The inquiries for new projects score was 43.5,up from 37.7 the previous month. “Now that the stimulus bill has passed and includes funding for construction projects, as well as for municipalities to raise bonds, business conditions could improve,” said AIA Chief Economist Kermit Baker. “That said, until we can get a clearer sense of credit lines being made available by banks, it will be hard to gauge when a lot of projects that have been put on hold can get back online.” Key January 2009 highlights include:
• Regional averages: West (38.3),Midwest (34.6), South (34.4), Northeast (29.8)
• Sector index breakdown: mixed practice (39.6), institutional (37.1), commercial/industrial (33.8), multifamily residential (29.5)
• Project inquiries index: 43.5

Source URL: https://www.metalarchitecture.com/news/industry-news/abi-falls-back-march-2009/

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