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 9, 2011
$22 million investment made in energy efficient building maker
The buildings use at least 25% less energy than the strictest building codes in the U.S., and as much as 80% less energy in certain parts of the country.
| Sep 8, 2011
Two promoted at ajc architects
ajc architects announced the promotion of Joshua W. Greene, AIA, NCARB, LEED Green Associate to Associate Principal of the firm. The firm also announced that Kent Rigby, AIA, has been promoted to Associate Architect.
| Sep 7, 2011
KSS Architects wins AIA NJ design award
The project was one of three to win the award in the category of Architectural/Non-Residential.
| Sep 7, 2011
Administration, Maintenance and Operations Facility in South Bend achieves LEED Platinum
The facility achieved 52 LEED points, including those for site selection, energy, materials and resources and innovation.
| Sep 6, 2011
Construction on Beijing's tallest building starts next week
The 108 floor mixed-use skyscraper consists of offices, apartments, hotels and shopping malls on the lower floors.
| Aug 31, 2011
Sebastopol, Cailf., invites designers to submit ideas for renewing city center
The goal of The Core Project is to explore how the physical presence of Sebastopol can become a more economically thriving and aesthetically vibrant place, reflecting the naturally beauty of the region and the character of the community.
| Aug 31, 2011
Wythe Confectionary renovation in Brooklyn completed
Renovation retains architectural heritage while reflecting a modern urban lifestyle.
| Aug 24, 2011
Deadline Extended: 2012 "Best AEC Firms to Work For” Awards
We’re looking for firms that create truly positive workplaces for their AEC professionals and support staff. In other words, this awards program will recognize those AEC firms that nurture and develop their most valuable asset—their people.
| Aug 23, 2011
Acoustical design education model
Pass this exam and earn 1.0 AIA/CES Discovery learning units. You must go to www.BDCnetwork.com/EnhancedAcousticalDesign to take this exam.
