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
| Apr 15, 2014
First look: Zaha Hadid reveals designs for dreamy sculptural hotel - CORRECTED
Hadid's design, which will become the fifth hotel tower in the City of Dreams entertainment hub, features a latticed exoskeleton enveloping the building's exterior. The 40-floor, 150,000-square-foot space is envisioned as a monolith with voids carved throughout.
| Apr 15, 2014
Chipperfield's sparkling brass-clad scheme selected to be new home of Nobel Prize
The distinctive building, with its shimmering vertical brass elements and glass façade design, beat out two other finalists in the Nobel Center architectural competition.
Sponsored | | Apr 15, 2014
Value billing and differentiation
Regardless of the fee you charge, clients and prospects decide the value of your professional services based on their experience with your firm.
| Apr 11, 2014
ULI report documents business case for building healthy projects
Sustainable and wellness-related design strategies embody a strong return on investment, according to a report by the Urban Land Institute.
| Apr 11, 2014
First look: KPF's designs for DreamWorks in the massive Shanghai DreamCenter
Two blocks of offices will be centerpiece of new cultural and lifestyle district in the West Bund Media Port.
| Apr 11, 2014
Start your engines: Ferrari plans to build first ever hotel
Clad in the carmaker's signature "Ferrari red," the hotel will resemble the grill and hood of one of its iconic cars.
| Apr 10, 2014
Collegiate sports becoming greener: Survey
A survey conducted from May through June 2013 by the University of Arizona Office of Sustainability and published by the Natural Resources Defense Council (NRDC)* finds that more collegiate athletic teams are adopting green and sustainable practices in operation of their sports facilities.
| Apr 10, 2014
Submit Your Project for a Bluebeam eXtreme Award!
Bluebeam is holding the second annual Bluebeam eXtreme Awards at the 2014 Bluebeam eXtreme Conference in Hollywood, Calf.
| Apr 9, 2014
How patient-centered medical homes can help healthcare providers and patients
Beyond reducing the number of uninsured Americans, the Affordable Care Act is driving new types of healthcare facilities, especially patient-centered medical homes.
| Apr 9, 2014
Colossal aquarium in China sets five Guinness World Records
With its seven salt and fresh water aquariums, totaling 12.87 million gallons, the Chimelong Ocean Kingdom theme park is considered the world’s largest aquarium.
