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
Healthcare Facilities | Mar 22, 2015
New Joplin, Mo., hospital built to tornado-resistant standards
The new hospital features a window and frame system that can protect patients from winds of up to 250 mph.
Sports and Recreational Facilities | Mar 19, 2015
Populous design wins competition for UK's most sustainable arena
The live-concert venue will seat an audience of 12,000, which the firm says will be masked by “the atmosphere and intimacy of a 4,000-seat amphitheatre.”
Architects | Mar 18, 2015
Architecture Billings Index rises in February
The ABI score was 50.4 last month, up slightly from a mark of 49.9 in January. This score reflects a minor increase in design services, according to AIA.
Multifamily Housing | Mar 18, 2015
Prefabricated skycubes proposed with 'elastic' living apartments inside
The interiors for each unit are designed using an elastic living concept, where different spaces are created by sliding on tracks.
Architects | Mar 18, 2015
Boston selects finalists in resilient design competition
The competition asks for creative approaches for planning for a not-so-distant future Boston where higher sea levels and more frequent flooding will be real and critical issues to contend with.
Cultural Facilities | Mar 17, 2015
The High Line’s co-designer wins contract for The Underline in Miami
James Corner Field Operations will design the master plan for this 10-mile restoration project.
Sponsored | | Mar 17, 2015
Are face-to-face meetings still important?
One CEO looks pass convenience and advocates for old school, in-person meetings.
High-rise Construction | Mar 16, 2015
NBBJ creates 'shadowless' skyscraper concept for proposed UK development
A team of architects from the London branch of NBBJ used computer algorithms to generate a dual-tower design that maximizes sunlight reflections to eliminate the buildings' shadows.
Healthcare Facilities | Mar 16, 2015
Healthcare planning in a post-ACA world: 3 strategies for success
Healthcare providers are seeking direction on how to plan for a value-based world while still very much operating in a volume-based market. CBRE Healthcare's Curtis Skolnick offers helpful strategies.
Resort Design | Mar 16, 2015
Giancarlo Zema Design Group unveils plans for semi-submerged resort in Qatar
The resort will have four semi-submerged hotels that look similar to super-yachts, each including 75 luxury suites with private terraces.