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
| Sep 7, 2012
Duffy joins Thornton Tomasetti
At Hardesty & Hanover, Duffy partnered with Thornton Tomasetti on a number of projects.
| Sep 7, 2012
Lucile Packard Children’s Hospital breaks ground on expansion
Sustainability and nature at the heart of the new addition at the Stanford University Medical Center designed by Perkins+Will.
| Sep 6, 2012
Young Spirit of Nature Wood Architecture award to Tiina Antinoja
The award is given for a student work in which wood as a building material has a central role.
| Sep 6, 2012
CPPI awarded $30.3 million contract for University of Florida’s Harrell Medical Education Building
The specialized interdisciplinary learning environment will serve as a focal point for integration and program development for all primary care educational activities in the College of Medicine.
| Sep 5, 2012
Pagano joins Thornton Tomasetti as Vice President in Newark office
Pagano is a Certified Energy Planner and Certified Energy Manager through the Association of Energy Engineers.
| Aug 30, 2012
John S Clark Co. completes teaching lab at UNC Wilmington
Three-story building provides offices, classrooms, and labs.
| Aug 29, 2012
BOND completes South Cove Community Health Center
$11 million, 21,000 square foot community health center opens in Quincy, Mass.
| Aug 29, 2012
Mamayek joins HDR as Design Principal in Boston
He will work closely with the Executive Committee and business group leaders to expand and promote HDR’s Design Excellence initiatives in the Northeast region.
| Aug 28, 2012
McCarthy begins construction on transportation center at Bob Hope Airport
Designed to meet LEED silver certification standards, the facility will feature unique, above ground base isolators that will resist a maximum credible earthquake.