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
| Jul 16, 2012
Chen named design director at Heery
Chen comes to Heery from his own firm, Mark Chen Architect, a design and planning consulting firm, based in New York City, whose recent work includes large-scale planning studies for mixed-use projects.
| Jul 16, 2012
Reed Construction hires new project manager
Fread is a LEED AP and received his degree from Purdue University.
| Jul 16, 2012
Business school goes for maximum vision, transparency, and safety with fire rated glass
Architects were able to create a 2-hour exit enclosure/stairwell that provided vision and maximum fire safety using fire rated glazing that seamlessly matched the look of other non-rated glazing systems.
| Jul 12, 2012
New firm RSK Avanti Partners offers market development services
Full-service consulting firm is focused on working with product manufacturers, designers, specifies and contractors in the building construction market.
| Jul 12, 2012
Chicago Public Schools names Lend Lease team as construction manager
Under this Capital Improvement Program, the Lend Lease team will be responsible for renovation and life safety work at over 100 Chicago Public Schools across the City.
| Jul 12, 2012
Cramer joins Gilbane’s NYC Business Development Team
New Business Development Manager brings over 30 years of experience to Gilbane.
| Jul 12, 2012
Cardoso joins Margulies Perruzzi Architects
Senior architect brings experience, leadership to firm’s healthcare practice.
| Jul 12, 2012
EE&K and Knutson Construction selected for the Interchange in Minneapolis
Design-build contract for $79.3 million transportation hub will connect transit with culture.
| Jul 11, 2012
New BDC University course: Design Criteria for Ceramic Tile/Stone Installations
Everyone that successfully completed to course will receive 1.0 HSW/LU AIA LU.
| Jul 11, 2012
Perkins+Will designs new home for Gateway Community College
Largest one-time funded Connecticut state project and first designed to be LEED Gold.
