Starting the year on a strong note, architecture firm billings strengthened slightly in January, according to a new report today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score of 52.2 for January compared to 52.1* in December reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). Indicators of work in the pipeline, including new project inquiries and new design contracts remained positive, posting scores of 57.9 and 56.0 respectively.
“Despite the continued presence of volatility in the economy, design activity has begun to accelerate in recent months,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Even with the ongoing challenges facing the nonresidential construction sector, this upturn points to at least modest growth over the coming year.”
Key ABI highlights for January include:
• Regional averages: South (56.7); West (52.1); Midwest (51.3); Northeast (45.3)
• Sector index breakdown: mixed practice (51.6); commercial/industrial (51.5); multi-family residential (51.2); institutional (51.1)
• Project inquiries index: 57.9
• Design contracts index: 56.0
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
*Every January the AIA research department updates the seasonal factors used to calculate the ABI, resulting in a revision of recent ABI values.
Related Stories
Market Data | Apr 13, 2021
ABC’s Construction Backlog slips in March; Contractor optimism continues to improve
The Construction Backlog Indicator fell to 7.8 months in March.
Market Data | Apr 9, 2021
Record jump in materials prices and supply chain distributions threaten construction firms' ability to complete vital nonresidential projects
A government index that measures the selling price for goods used construction jumped 3.5% from February to March.
Contractors | Apr 9, 2021
Construction bidding activity ticks up in February
The Blue Book Network's Velocity Index measures month-to-month changes in bidding activity among construction firms across five building sectors and in all 50 states.
Industry Research | Apr 9, 2021
BD+C exclusive research: What building owners want from AEC firms
BD+C’s first-ever owners’ survey finds them focused on improving buildings’ performance for higher investment returns.
Market Data | Apr 7, 2021
Construction employment drops in 236 metro areas between February 2020 and February 2021
Houston-The Woodlands-Sugar Land and Odessa, Texas have worst 12-month employment losses.
Market Data | Apr 2, 2021
Nonresidential construction spending down 1.3% in February, says ABC
On a monthly basis, spending was down in 13 of 16 nonresidential subcategories.
Market Data | Apr 1, 2021
Construction spending slips in February
Shrinking demand, soaring costs, and supply delays threaten project completion dates and finances.
Market Data | Mar 26, 2021
Construction employment in February trails pre-pandemic level in 44 states
Soaring costs, supply-chain problems jeopardize future jobs.
Market Data | Mar 24, 2021
Architecture billings climb into positive territory after a year of monthly declines
AIA’s ABI score for February was 53.3 compared to 44.9 in January.
Market Data | Mar 22, 2021
Construction employment slips in 225 metros from January 2020 to January 2021
Rampant cancellations augur further declines ahead.
