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 1, 2012
Time-lapse video: World Trade Center, New York
One World Trade Center, being built at the site of the fallen twin towers, surpassed the Empire State Building on Monday as the tallest building in New York.
| May 1, 2012
Bruce E. Brooks Associates announces new commissioning subsidiary
Brooks + Wright Commissioning to be led by Will Wright.
| May 1, 2012
Gilbane to build $100 million cranberries manufacturing facility
Gilbane to provide design build services for a new Lean manufacturing facility for Ocean Spray Cranberries Inc., beverage products.
| May 1, 2012
Construction is underway on MLK ambulatory care center in L.A.
Featuring a variety of sustainable features, the new facility is designed to achieve LEED Gold Certification.
| Apr 30, 2012
Virginia Commonwealth unveils design for Arts Institution
Institute for Contemporary Art will serve as a catalyst for exhibitions, programs, research and collaboration.
| Apr 30, 2012
Summit Design + Build completes build-out for Office Concepts
The project is seeking LEED ID Silver certification from the U.S. Green Building Council.
| Apr 30, 2012
HSA Commercial selected as consultant for Orland Park’s Main Street Triangle project
HSA will be responsible for designing an overall mixed-use merchandise plan, attracting a unique retail tenant mix and completing leases with prospective tenants.
| Apr 30, 2012
Gilbane to manage retrofit of the Fraunhofer CSE R&B structure
Building is a first-of-its-kind research and demonstration building for sustainable technologies in Boston's Innovation District.
| Apr 30, 2012
KBE Building completes renovation at the ConnCAT
The $1.2 million project consisted of a 16,000-sf interior renovation.
