Architecture Billings Index (ABI)
The Architecture Billings Index is an economic indicator for nonresidential construction activity, with a lead time of approximately 9–12 months. Investment groups like Wells Fargo, media outlets, firms of all sizes, and business leaders rely on this leading monthly economic indicator to assess business conditions and predict and track the market.
The index is derived from AIA’s Work-on-the-Boards survey, which has gathered data on shifts in billings from architectural firm leaders for over 20 years. This data is a trusted tool used by the design and construction industry and other firms to predict and track movements in the market
Examples of the ABI in use:
- Firm strategic planning: ADD Inc., a multidisciplinary design firm with 200 employees, uses the ABI to help prepare for market fluctuations and ramp-up hiring.
- Determining business cycle shifts: Johnson Controls, which provides buildings services, looks to ABI for an early picture of construction trends to use in resource planning and stockholder guidance—and to identify expansion opportunities.
- Timing in a changing economy: One of the largest privately held family-owned real estate development and construction firms, Gilbane Inc., finds the ABI vital to help manage budgets, prepare for market movements, manage RFPs and seek leads.
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ABI July 2021: Business conditions remain strong at architecture firms
Firm revenue projected to grow further in the second half of 2021
ABI June 2021: Architecture firm billings continue to grow at a robust pace
Nearly six in 10 firms report that they are having problems filling open architectural staff positions
ABI May 2021: Business conditions strengthen further at architecture firms
Work on existing buildings accounts for more than half of firm billings so far this year
ABI April 2021: Architecture firm billings continue to rebound at a brisk pace
Price and availability of construction materials and products is a moderate to serious problem for many firms
ABI March 2021: Recovery in architecture firm billings continues to accelerate
Firms report just a modest decline in overall head count due to the pandemic
ABI February 2021: Architecture firm billings return to positive territory for the first time since the start of the pandemic one year ago
Firms expect fewer employees working in the office full-time post-pandemic, although many expect office space needs to be unchanged to accommodate better social distancing