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
| Sep 30, 2011
Design your own floor program
Program allows users to choose from a variety of flooring and line accent colors to create unique floor designs to complement any athletic facility.
| Sep 30, 2011
AAMA offers electronic technical documents with launch of virtual library
This new program offers a system for members to purchase annual licenses in order to offer electronic versions of AAMA publications in an effort to make AAMA’s technical information resources more readily available to their employees.
| Sep 29, 2011
Submit your Great Solutions
Profiles of Great Solutions will appear in December 2011 issue of Building Design+Construction.
| Sep 29, 2011
Busch Engineering, Science and Technology Residence Hall opens to Rutgers students
With a total development cost of $57 million, B.E.S.T. is the first on-campus residence hall constructed by Rutgers since 1994.
| Sep 29, 2011
CEU series examines environmental footprint and performance properties of wood, concrete, and steel
Each course qualifies for one AIA/CES HSW/SD Learning Unit or One GBCI CE Hour.
| Sep 29, 2011
Kohler supports 2011 Solar Decathlon competition teams
Modular Architecture > In a quest to create the ultimate ‘green’ house, 20 collegiate teams compete in Washington D.C. Mall.
| Sep 29, 2011
AIA Dallas names new executive director
AIA Dallas one of only a few chapters in the U.S. to be led by an accomplished architect.
| Sep 29, 2011
Potter honored with SMSP honor
The Society for Marketing Professional Services (SMPS) recognized Alfred K. Potter II, FSMPS, senior vice president with Gilbane Building Co., with the 2011 Weld Coxe Marketing Achievement Award (MAA).