23 March 2011 18:20 [Source: ICIS news]
HOUSTON (ICIS)--The outlook for future ?xml:namespace>
The AIA’s February Architecture Billings Index (ABI) was 50.6, up from 50.0 in January, indicating a slight increase in billings for architectural design services.
The ABI results reflect a lag of 9-12 months between architecture billings and construction spending, according to the AIA.
A year ago, strict credit terms were suppressing the launch of design projects. The February 2010 ABI was at 44.8, indicating a continued, but slower decline in demand for architectural design services from AIA-member architects.
During the last two months, “overall demand for design services seems to be treading water”, AIA chief economist Kermit Baker said. He had predicted a gradual improvement in business conditions at architecture firms and said the AIA still expects recovery to “move at a slow but steady pace.”
The February new-project inquiries index slipped, however, to 56.4 from January’s 56.5.
Regionally, February results declined in all geographic areas except the west, where the index rose by about 4% to 49.1 from 47.3 the previous month. Declines were marginal in the midwest and the south, but dropped by 8% in the northeast, according the AIA survey.
Among construction sectors, the ABI for February fell in the institutional sector and again in the multi-family residential sector. The index rose in the commercial-industrial and mixed-practice sectors by less than a percentage point and by 5%, respectively.
Every $1,000 spent on non-residential construction generates $160-230 (€112-161) worth of consumable chemicals and derivatives, according to the American Chemistry Council.
($1 = €0.70)
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections