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 6, 2014
Studio Gang Architects will convert power plant into college recreation center
The century-old power plant will be converted into a recreation facility with a coffee shop, lounges, club rooms, a conference center, lecture hall, and theater, according to designboom.
Sponsored | | Nov 6, 2014
Drilling deeper: On the ground insights from the Marcellus Shale region
The Marcellus Shale region is expansive, stretching from upstate New York through Pennsylvania to West Virginia. It’s an exciting time to live and work in the area. SPONSORED CONTENT
| Nov 5, 2014
AEC firms leverage custom scripts to bridge the ‘BIM language gap'
Without a common language linking BIM/VDC software platforms, firms seek out interoperability solutions to assist with the data transfer between design tools.
| Nov 5, 2014
Survey: More than 75% of workload takes place without face-to-face interactions
With the rise of technology, much of the workday—even the most productive morning hours—is spent corresponding via email or conference call, according to a recent survey of corporate workers by Mancini•Duffy.
| Nov 5, 2014
The architects behind George Lucas' planned Chicago museum unveil 'futuristic pyramid'
Preliminary designs for the $300 million George Lucas Museum of Narrative Art have been unveiled, and it looks like a futuristic, curvy pyramid.
Sponsored | | Nov 5, 2014
How to maximize affordability and sustainability through all-wood podiums
Wood podium construction takes an age-old material and moves it into the 21st century.
| Nov 4, 2014
Zaha Hadid's first building in Shanghai debuts
Sky SOHO is the third in a trilogy of SOHO China developments designed by Zaha Hadid Architects.
| Nov 4, 2014
HOK breaks ground on colossal research complex for LG in Seoul
Located in Seoul’s Magok District, the LG Science Park provides facilities to support innovative research and industrial prototyping. HOK designed phase one of the master plan and six of the laboratory and office buildings.
| Nov 3, 2014
IIT names winners of inaugural Mies Crown Hall Americas Prize
Herzog & de Meuron's iconic 1111 Lincoln Road parking garage in Miami Beach, Fla., is one of two winners of the $50,000 architectural prize.
| Nov 3, 2014
Cairo's ultra-green mixed-use development will be topped with flowing solar canopy
The solar canopy will shade green rooftop terraces and sky villas atop the nine-story structure.
