Architecture Billings Index Notches Solid Finish to 2017
|The Architecture Billings Index (ABI) fell 2.1 points in December to 52.9 but remained in expansionary territory. This is the third consecutive monthly reading above 50, and the tenth of 2017.
Regional Strength in All But Northeast
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The ABI fell slightly to 52.9 from 55.0. Even with the drop, the index remains consistent with increased demand for design services. The three-month average increased 1.3 points to 53.2.
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Regional indices, which are reported as a three-month average, showed strength in the Midwest, South and West – all remain above 50. The Northeast ABI moderated to 49.4, but was above 50 for most of 2017 and the general trend remains positive.
Gains in Residential and Commercial/Industrial
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The residential and commercial/industrial indices improved on the month, rising to 55.4 and 54.8 respectively. Institutional declined to 51.2 and mixed fell to 50.4. The indices for all four sectors have remained above 50 for five consecutive months.
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With every sector and most regions reporting ABI scores in expansionary territory, nonresidential construction appears poised for stronger growth in 2018.
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