Demand for design services in February grew slightly since January, according to a new report today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for February was 51.3, up from a score of 51.0 in January. Any score above 50 indicates an increase in billings. Firms reported both project inquiries and design contracts remaining positive in February, but while project inquiries increased to 62.5 from 61.9 in January, design contracts decreased to 55.2 from 56.1.
“Despite the continued healthy demand for design services, activity is plateauing as firms face a myriad of external challenges, from staffing to supply chain disruptions to high inflation and rising interest rates,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “While the rebound from the pandemic has positively impacted firms in most regions, the prolonged lack of demand for design services in the Northeast is of growing concern.”
Key ABI highlights for February include:
- Regional averages: South (58.6); Midwest (53.2); West (47.9); Northeast (44.3)
- Sector index breakdown: commercial/industrial (55.4); mixed practice (53.8); multi-family residential (52.6); institutional (47.2)
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
Industry Research | Mar 21, 2017
Staff recruitment and retention is main concern among respondents of State of Senior Living 2017 survey
The survey asks respondents to share their expertise and insights on Baby Boomer expectations, healthcare reform, staff recruitment and retention, for-profit competitive growth, and the needs of middle-income residents.
Industry Research | Mar 14, 2017
6 ways cities can prepare for a driverless future
A new report estimates 7 million drivers will shift to autonomous vehicles in 3 U.S. cities.
Office Buildings | Mar 7, 2017
Large creative office projects generate staggering returns for property investors
A new Transwestern report examines the adaptive reuse trend across the U.S.
Industry Research | Mar 7, 2017
These are the 10 most expensive cities in the world to build in
Paris, Frankfurt, and Macau are all on the list, but none of them are more expensive than the city in the number one spot.
Office Buildings | Mar 2, 2017
White paper from Perkins Eastman and Three H examines how design can inform employee productivity and wellbeing
This paper is the first in a planned three-part series of studies on the evolution of diverse office environments and how the contemporary activity-based workplace (ABW) can be uniquely tailored to support a range of employee personalities, tasks and work modes.
Industry Research | Feb 15, 2017
Putting workers first should be every employer’s priority
The latest Sodexo report on workplace trends explores 10 factors that are impacting the global work environment.
Industry Research | Feb 13, 2017
How thought leadership marketing can generate referrals for your firm
The most effective way to boost your reputation is through thought leadership marketing.
Market Data | Feb 1, 2017
Nonresidential spending falters slightly to end 2016
Nonresidential spending decreased from $713.1 billion in November to $708.2 billion in December.
High-rise Construction | Jan 23, 2017
Growth spurt: A record-breaking 128 buildings of 200 meters or taller were completed in 2016
This marks the third consecutive record-breaking year for building completions over 200 meters.
Market Data | Jan 18, 2017
Fraud and risk incidents on the rise for construction, engineering, and infrastructure businesses
Seven of the 10 executives in the sector surveyed in the report said their company fell victim to fraud in the past year.