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
| Feb 25, 2014
NYC's Hudson Spire would be nation's tallest tower if built
Design architect MJM + A has released an updated design scheme for the planned 1,800-foot-tall, superthin skyscraper.
| Feb 24, 2014
White Paper: Using social media to build your business
This white paper from Benjamin Moore provides practical guidance for building and sustaining an effective online presence, with the ultimate goal of helping your painting business become more successful.
| Feb 24, 2014
First look: UC San Diego opens net-zero biological research lab
The facility is intended to be "the most sustainable laboratory in the world," and incorporates natural ventilation, passive cooling, high-efficiency plumbing, and sustainably harvested wood.
| Feb 24, 2014
White Paper: The science of color and light
This white paper from Benjamin Moore provides an overview of the properties of color and light, along with practical guidance on how the relationship between the two affects design choices.
| Feb 21, 2014
Naturally ventilated hospital planned in Singapore
The Ng Teng Fong General Hospital will take advantage of the region's prevailing breezes to cool the spaces.
| Feb 21, 2014
Calatrava ordered to pay millions for 'shortcomings in his work' on conference center project
Famed architect Santiago Calatrava must pay 2.9 million euros due to faulty design work on the Palacio de Congresos project in Oviedo, Spain.
| Feb 21, 2014
First look: Goettsch Partners reveals 'lighthouse' tower scheme for China resort
Topped with glowing beacon that will be visible for miles in any direction, the Rosewood Sanya tower is the centerpiece of a new resort and meeting complex on China’s Hainan Island.
| Feb 20, 2014
5 myths about cross laminated timber
A CLT expert clears up several common misconceptions and myths surrounding the use of wood as a building material.
Sponsored | | Feb 20, 2014
Chicago’s historic Wrigley Building renovated to attract tech companies
Purchased in 2011 by a consortium of investors led by BDT Capital Partners, the building’s new owners have recently renovated and reimagined the next life for this architectural landmark—as a hub for tech firms.
| Feb 20, 2014
World's longest desk? Massive, undulating desk accommodates 145 office workers [video]
The desk is built from plywood and one continuous sheet of resin, and can serve all 145 office employees at once.
