WASHINGTON, D.C. — Following three months of accelerating demand for design services, the Architecture Billings Index reflected a somewhat slower pace of growth in October. The ABI reflects the approximate 9-12 month lead time between architecture billings and construction spending.   The American Institute of Architects reported the October ABI score was 51.6, down from a mark of 54.3 in September.   This score reflects an increase in design services (any score above 50 indicates an increase in billings).   The new projects inquiry index was 61.5, up from the reading of 58.6 the previous month. “There continues to be […]

CHICAGO, Ill. —Many wondered if the U.S. commercial construction industry would ever recover from the darkest days of the recession, particularly in late 2009 and early 2010. Jones Lang LaSalle's 2013 Construction Outlook finds that “Extreme Makeover” couldn"t be more appropriate for the commercial construction industry comparing 2009 to present. Just a few years after the recession brought the U.S. commercial construction sector to a standstill, the annual report paints a picture of a recovering, more diversified industry with less risk and revived funding. “The construction industry has evolved significantly in the last five years,” said Todd Burns, president of […]

Fixed investment in nonresidential structures and intellectual property grew 12.3 percent and 2.2 percent, respectively, in the third quarter, according to the U.S. Commerce Department's Nov. 7 report on gross domestic product. However, the growth was tempered by a 3.3 percent decline in fixed investment in nonresidential equipment. “Today's GDP release represents the last piece of information regarding U.S. output and nonresidential fixed investment that is untouched by the federal government shutdown in October and the most recent debt ceiling debate,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Of course, September economic activity could have been impacted by […]