After starting out the year on a positive note, there was another minor increase in the Architecture Billings Index (ABI) last month.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported that the February ABI score was 50.7, up slightly from a mark of 50.4 in January.
This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 56.8, down from the reading of 58.5 the previous month.
“The unusually severe weather conditions in many parts of the country have obviously held back both design and construction activity,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “The March and April readings will likely be a better indication of the underlying health of the design and construction markets. We are hearing reports of projects that had been previously shelved for extended periods of time coming back online as the economy improves.”
Key February ABI highlights:
- Regional averages: South (52.8),West (50.5), Northeast (48.3), Midwest (47.6)
- Sector index breakdown: multi-family residential (52.5), commercial / industrial (51.9), institutional (49.6), mixed practice (46.6)
- Project inquiries index: 56.8
The regional and sector categories are calculated as a 3-month moving average, whereas the national index and inquiries are monthly numbers.
Related Stories
| Nov 14, 2014
JetBlue opens Gensler-designed International Concourse at JFK
The 175,000-sf extension includes the conversion of three existing gates to international swing gates, and the addition of three new international swing gates.
Sponsored | | Nov 12, 2014
Eye-popping façade highlights renovation, addition at Chaffin Junior High School
The new distinctive main entrance accentuates the public face of the school with an aluminum tube “baguette” system.
| Nov 12, 2014
Collaboration as competitive advantage
A collaborative planning and design process may seem like a common-sense goal, but the concept can be a challenge to achieve in the fragmented AEC industry. SPONSORED BLOG
Sponsored | | Nov 12, 2014
Williams Scotsman plugs into the jobsite
Many of our customers conduct important business from their temporary modular jobsite office and most require access to technology to get their job done effectively and efficiently. SPONSORED CONTENT
| Nov 12, 2014
Chesapeake Bay Foundation completes uber-green Brock Environmental Center, targets Living Building certification
More than a decade after opening its groundbreaking Philip Merrill Environmental Center, the group is back at it with a structure designed to be net-zero water, net-zero energy, and net-zero waste.
| Nov 12, 2014
Refocusing the shifted line
A recent trend in the practice of architecture that I’ve been noticing is the blurring of responsibility between design and construction coordination. I’m not sure why this trend began, but the subject is worth exploring, writes FXFOWLE's Mark Nusbaum.
| Nov 12, 2014
Designs by three finalists for new Beethoven concert hall unveiled
David Chipperfield and Valentiny are among the finalists for a new concert hall being built to commemorate Beethoven’s 250th birthday in his hometown of Bonn, Germany.
| Nov 12, 2014
Forbes: Houston is America's #1 construction hotspot
A new list of America's 20 biggest boomtowns shows Houston on top, with New York City close behind, followed by Dallas, Washington, D.C., and Los Angeles.
| Nov 11, 2014
Must see: Artist pairs up Hollywood icons with famous modern architecture
In his latest series, Federico Babina illustrated 17 iconic Hollywood personalities, from Marilyn Monroe to Michael Caine, interacting with famous 20th century homes.
| Nov 11, 2014
Renzo Piano's third building at London Bridge Quarter approved, will be built adjacent to the Shard
Renzo Piano Building Workshop has been granted planning approval for its residential building at London Bridge Quarter—a 26-story apartment tower dubbed Feilden House.
