On the heels of consecutive months of decreasing demand for design services, the Architecture Billings Index (ABI) has returned to positive territory.
The American Institute of Architects (AIA) reported that the May ABI score was 52.6, up sharply from a mark of 49.6 in April. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 63.2, up from the reading of 59.1 the previous month.
The AIA has added a new indicator measuring the trends in new design contracts at architecture firms that can provide a strong signal of the direction of future architecture billings. The score for design contracts in May was 52.5.
“Volatility continues to be the watchword in the design and construction markets, with firms in some regions of the country, and serving some sectors of the industry, reporting strong growth, while others are indicating continued weakness,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “However, overall, it appears that activity has recovered from the winter slump, and design professions should see more positive than negative numbers in the coming months.”
Key May ABI highlights:
- Regional averages: South (58.1), Midwest (51.3), Northeast (47.6) , West (46.9)
- Sector index breakdown: multi-family residential (58.2), commercial / industrial (53.6), mixed practice (50.4), institutional (47.3)
- Project inquiries index: 63.2
- Design contracts index: 52.5
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
| Jan 20, 2015
Avery Associates unveils plans for London's second-tallest tower
The 270-meter tower, dubbed the No. 1 Undershaft, will stand next to the city's "Cheesegrater" building.
| Jan 20, 2015
AIA course: Building with brick, stone, and masonry
Earn 1.0 AIA/CES learning units by studying this article and successfully completing the online exam.
| Jan 19, 2015
HAO unveils designs for a 3D movie museum in China
New York-based HAO has released designs for the proposed Bolong 3D Movie Museum & Mediatek in Tianjin.
| Jan 19, 2015
Gaudi’s first work outside Spain will be a chapel in Chile
Nearly 100 years after Antoni Gaudí’s death, Chile will begin constructing a chapel using his designs.
| Jan 19, 2015
Architecture for Humanity closes office, plans to file for bankruptcy
After more than 15 years of work, the nonprofit design group Architecture for Humanity has closed its San Francisco office and plans to file for Chapter 7 bankruptcy protection.
| Jan 19, 2015
Four Seasons tower will be Boston's tallest
On Jan. 14, 2015, developer Carpenter & Company and executives from the Four Seasons broke ground on the Four Seasons Hotel & Private Residences, which will become the tallest building in Boston at 699 feet.
| Jan 19, 2015
Mystery buyer pays highest ever price for NYC residence
The 89th and 90th floors of 157 W. 57th Street have just been purchased for more than $100 million.
| Jan 17, 2015
When is a train station not a train station? When it’s a performance venue
You can catch a train at Minneapolis’s new Target Field Station. You can also share in an experience. That’s what ‘Open Transit’ is all about.
| Jan 16, 2015
Artsy lifeguard stations will brighten Toronto’s snowy beach
Five winning designs have been unveiled for lifeguard stands that will double as public space art installations on Toronto's beach.
| Jan 16, 2015
New York City construction costs continue to climb
A study released by the New York Building Congress shows that construction costs in Manhattan have risen 5% in each of the last two years.