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
| May 30, 2017
Accelerate Live! talk: Health-generating buildings, Marcene Kinney, Angela Mazzi, GBBN Architects
Architects Marcene Kinney and Angela Mazzi share design hacks pinpointing specific aspects of the built environment that affect behavior, well-being, and performance.
Daylighting | May 30, 2017
Sun, sky brightness, and glow: Making the most of daylight [AIA course]
To some project teams, “daylighting” means using glass area to admit direct sunlight, period.
Security/Fire Protection | May 30, 2017
Security begins when you close the door [AIA course]
Selecting door and window systems for any building project demands a complete articulation of safety and security concerns.
Codes and Standards | May 30, 2017
Industry Groups move toward Unified Green Building Model Code in 2018
The effort involves combining ASHRAE's Standard 189.1 with the International Green Construction Code.
Codes and Standards | May 30, 2017
Florida preparing to adjust to new building elevation requirements
New floodplain maps and state code changes loom.
Codes and Standards | May 30, 2017
Heated debate over whether Calif.’s prevailing wage requirement stymies affordable housing
There’s disagreement around how much pay regulations add to cost of projects.
Reconstruction & Renovation | May 30, 2017
Achieving deep energy retrofits in historic and modern-era buildings [AIA course]
Success in retrofit projects requires an entirely different mindset than in new construction, writes Randolph Croxton, FAIA, LEED AP, President of Croxton Collaborative Architects.
Architects | May 26, 2017
Innovations in addressing homelessness
Parks departments and designers find new approaches to ameliorate homelessness.
Architects | May 26, 2017
BIG plans: Architecture isn’t Bjarke Ingels Group’s only growth path
Kai-Uwe Bergmann, the firm’s head of global business development, says engineering and urban planning are key opportunities. And how about that Hyperloop?
Museums | May 25, 2017
The museum as workspace
Many museum staff are resistant to the idea of open offices.