Led by a still active multi-family housing market and sustained by solid levels of demand for new commercial and retail properties, the Architecture Billings Index has accelerated to its highest score in nearly a year.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12 month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the May ABI score was 53.1, up sharply from the mark of 50.6 in the previous month. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 60.1, up from a reading of 56.9 the previous month.
“Business conditions at design firms have hovered around the break-even rate for the better part of this year,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Demand levels are solid across the board for all project types at the moment. Of particular note, the recent surge in design activity for institutional projects could be a harbinger of a new round of growth in the broader construction industry in the months ahead.”
Key May ABI highlights:
- Regional averages: West (53.8), South (53.7), Northeast (51.2), Midwest (49.9)
- Sector index breakdown: multi-family residential (53.7), institutional (53.0), commercial/industrial (51.0), mixed practice (51.0),
- Project inquiries index: 60.1
- Design contracts index: 52.8
- The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
| Aug 14, 2014
Life cycle cost analysis using energy modeling
A life cycle cost analysis helps a school district decide which HVAC system to use in $198 million worth of future building projects.
| Aug 14, 2014
Museum of Mayan Culture draws inspiration from temple design [slideshow]
The Museo Maya de América in Guatemala City will be the world’s largest museum of Mayan history and culture, at 60,000 sf.
| Aug 14, 2014
How workplace design can empower employees, businesses
Focusing on recent work at Follett and Zurich, CannonDesign’ Meg Osman reveals the power of research, strategy, change management, and measurement to transform businesses for the better.
| Aug 13, 2014
UIA commits to phasing out CO2 emissions in built environment
The International Union of Architects, representing approximately 2.3 million architects worldwide, has unanimously adopted the 2050 Imperative committing to environmental and social sustainability.
| Aug 13, 2014
ADD Inc. to merge with Stantec
The deal, which helps Stantec strengthen its capabilities in the buildings business on the East Coast, is expected to close in September.
| Aug 13, 2014
Campus UX: Why universities should be creating 'branded environments' on campus
When most colleges and universities consider their brands, they rarely venture beyond the design and implementation of a logo, writes Gensler Design Director Brian Brindisi.
| Aug 12, 2014
Vietnam's 'dragonfly in the sky' will be covered in trees, vegetation
Designed by Vietnamese design firm Vo Trong Nghia Architects, the building will be made up of stacked concrete blocks placed slightly askew to create a soft, organic form that the architects say is reminiscent of a dragonfly in the sky.
| Aug 12, 2014
First look: Calatrava's futuristic Main Building opens at Florida Polytechnic University
The $60 million structure is wrapped in a bright-white, aluminum pergola for dramatic effect and solar shading.
| Aug 12, 2014
Shading prototype could allow new levels of environmental control for skyscraper occupants
Developed by architects at NBBJ, Sunbreak uses a unique three-hinged shade that morphs from an opaque shutter to an abstract set of vertical blinds to an awning, depending on what is needed.
| Aug 12, 2014
Design firms invited to submit qualifications for St. Petersburg, Fla., waterfront project
The city of St. Petersburg, Fla., invites firms to submit their ideas for a new and improved pier for Florida's fifth largest city.