Led by the commercial sector, the Architecture Billings Index (ABI) has remained in positive territory four months in a row. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending.
The American Institute of Architects (AIA) reported the February ABI score was 51.0, following a mark of 50.9 in January. This score reflects a slight increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 63.4, up from mark of 61.2 the previous month and its highest reading since July 2007.
“This is more good news for the design and construction industry that continues to see improving business conditions,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “The factors that are preventing a more accelerated recovery are persistent caution from clients to move ahead with new projects, and a continued difficulty in accessing financing for projects that developers have decided to pursue.”
Key February ABI highlights:
- Regional averages: Midwest (56.0), South (51.3), Northeast (51.0), West (45.6)
- Sector index breakdown: commercial / industrial (55.1), multi-family residential (53.3), institutional (50.3), mixed practice (46.3)
- Project inquiries index: 63.4
The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers. BD+C
Related Stories
Airports | Jul 7, 2022
Love at first flight: The power of first impressions in airports
As architects, how we design a terminal and choreograph the passenger experience can stir up strong feelings.
Building Team | Jul 7, 2022
Amenity-rich rental property in Chicago includes seven-story atrium with vertical landscaping
The recently opened 198-unit Optima Lakeview luxury rental apartment building in Chicago is bursting with amenities such as the region’s first year-round rooftop pool, contact-free in-home package delivery, housekeeping services, on-site room service, fitness programming, and a virtual personal assistant.
Multifamily Housing | Jul 6, 2022
The power of contextual housing development
Creating urban villages and vibrant communities starts with a better understanding of place, writes LPA's Matthew Porreca.
Building Team | Jul 6, 2022
Buro Happold selects Jennifer Price for top role, US Managing Director
Buro Happold, a world-class practice of 2,200 engineers and consultants, has announced the appointment of Seattle-based Jennifer Price as US Managing Director and Partner.
University Buildings | Jul 6, 2022
Wenzhou-Kean University opens a campus building that bridges China’s past and future
After pandemic-related stops and starts, Wenzhou-Kean University’s Ge Hekai Hall has finally begun to see full occupancy.
Security and Life Safety | Jul 5, 2022
What AEC firms should look for in a cybersecurity partner
When looking for expert partners in cybersecurity, AEC firms will find quite a lot of companies claiming to be at the forefront of modern threats. Here are five key points to look for when choosing a cybersecurity firm.
Performing Arts Centers | Jul 5, 2022
Tour the new Patricia Reser Center for the Arts in Oregon
This month, the community of Beaverton, Oregon, welcomed a new haven for artistic expression with the opening of Patricia Reser Center for the Arts (The Reser).
Building Team | Jul 5, 2022
Dallas’ Fair Park, home to the State Fair of Texas, will place a park atop a new parking garage
A registered National Historic Landmark, Fair Park is the 227-acre home to the Texas State Fair and various cultural institutions in Dallas, Tex.
Market Data | Jul 1, 2022
Nonresidential construction spending slightly dips in May, says ABC
National nonresidential construction spending was down by 0.6% in May, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.
Building Team | Jul 1, 2022
How to apply WELL for better design outcomes
The International WELL Building Institute (IWBI) cites attracting top talent, increasing productivity, and improving environmental, social or governance (ESG) performance as key outcomes of leveraging tools like their WELL Building Standard to develop healthier environments.
