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
High-rise Construction | Apr 26, 2017
Dubai’s newest building is a giant gilded picture frame
Despite currently being under construction, the building is the center of an ongoing lawsuit filed by the architect.
Architects | Apr 25, 2017
Two Mid-Atlantic design firms join forces
Quinn Evans Architects and Cho Benn Holback + Associates have similar portfolios with an emphasis on civic work.
BIM and Information Technology | Apr 24, 2017
Reconciling design energy models with real world results
Clark Nexsen’s Brian Turner explores the benefits and challenges of energy modeling and discusses how design firms can implement standards for the highest possible accuracy.
Higher Education | Apr 24, 2017
Small colleges face challenges — and opportunities
Moody’s Investor Service forecasts that closure rates for small institutions will triple in the coming years, and mergers will double.
Healthcare Facilities | Apr 24, 2017
Treating the whole person: Designing modern mental health facilities
Mental health issues no longer carry the stigma that they once did. Awareness campaigns and new research have helped bring our understanding of the brain—and how to design for its heath—into the 21st century.
Architects | Apr 20, 2017
Design as a business strategy: Tapping data is easier than you think
We have been preaching “good design matters” for a long time, demonstrating the connection between the physical environment and employee satisfaction, individual and team performance, and an evolving organizational culture.
Architects | Apr 20, 2017
‘Gateways to Chinatown’ project seeks the creation of a new neighborhood landmark for NYC’s Chinatown
The winning team will have $900,000 to design and implement their proposal.
Architects | Apr 19, 2017
Tour Zaha Hadid, Frank Gehry architecture with Google Earth
Google Earth’s new ‘Voyager’ feature allows people to take interactive guided tours.
Multifamily Housing | Apr 18, 2017
Three multifamily, three specialized housing projects among 14 recipients of the AIA’s 2017 Housing Awards
2017 marks the 17th year the AIA has rewarded projects and architects with the Housing Awards.
Projects | Apr 17, 2017
BD+C's 2017 Design Innovation Report
Façades that would make Dr. Seuss smile, living walls, and exterior wall space that doubles as gallery space are all represented in this year's BD+C Design Innovation Report.