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
| Dec 16, 2011
Goody Clancy-designed Informatics Building dedicated at Northern Kentucky University
The sustainable building solution, built for approximately $255-sf, features innovative materials and intelligent building systems that align with the mission of integration and collaboration.
| Dec 16, 2011
Stalco Construction converts Babylon, N.Y. Town Hall into history museum
The project converted the landmark structure listed on the National Register of Historic Places into the Town of Babylon History Museum at Old Town Hall.
| Dec 14, 2011
Belfer Research Building tops out in New York
Hundreds of construction trades people celebrate reaching the top of concrete structure for facility that will accelerate treatments and cures at world-renowned institution.
| Dec 14, 2011
Tyler Junior College and Sika Sarnafil team up to save energy
Tyler Junior College wanted a roofing system that wouldn’t need any attention for a long time.
| Dec 13, 2011
Lutron’s Commercial Experience Center awarded LEED Gold
LEED certification of the Lutron facility was based on a number of green design and construction features that positively impact the project itself and the broader community. These features include: optimization of energy performance through the use of lighting power, lighting controls and HVAC, plus the use of daylight.
| Dec 12, 2011
AIA Chicago announces Skidmore, Owings & Merrill as 2011 Firm of the Year
SOM has been a leader in the research and development of specialized technologies, new processes and innovative ideas, many of which have had a palpable and lasting impact on the design profession and the physical environment.
| Dec 12, 2011
Skanska to expand and renovate hospital in Georgia for $103 Million
The expansion includes a four-story, 17,500 square meters clinical services building and a five-story, 15,700 square meters, medical office building. Skanska will also renovate the main hospital.
| Dec 12, 2011
CRSI design awards deadline extended to December 31
The final deadline is extended until December 31st, with judging shortly thereafter at the World of Concrete.
