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
| Feb 27, 2014
Gensler reveals 44 design trends for the next decade
The 82-page report covers dozens of emerging trends in healthcare, commercial office, hospitality, tall buildings, and more.
| Feb 27, 2014
Target converts former prison dump into latest big-box store
Target's new San Rafael, Calif., location was built on the site of the former San Quentin prison dump.
| Feb 27, 2014
Open or private offices? It depends on the business plan
Open layouts are grabbing headlines as a hallmark of the new workplace—think the Google campus or Facebook's headquarters. And for smaller-scale operations, open designs are often lauded for being less expensive than private office plans. But does that mean all offices should have an open layout?
| Feb 27, 2014
3 reasons to apply computational fluid dynamics on your next project
From right-sizing mechanical systems to understanding the impact of design alternatives, CFD offers a host of benefits for the Building Team.
| Feb 27, 2014
12 facts about heat-treated glass: Why stronger isn’t always better
Glass is heat-treated for two reasons: the first is to increase its strength to resist external stresses such as wind and snow loads, or thermal loads caused by the sun’s energy. The second is to temper glass so that it meets safety glazing requirements defined by applicable codes or federal standards.
| Feb 27, 2014
Metal Construction Association introduces two Environmental Product Declarations
Two Environmental Product Declarations (EPD), one for Metal Composite Material Panels and one for Roll Formed Steel Panels for Roofs and Walls, are now available free of charge from the Metal Construction Association (MCA) on its website.
| Feb 27, 2014
Bluebeam Software launches Revu 12 for better field-ready document management and project collaboration
The latest version of the company’s flagship solution better enables users in document-intensive industries to digitally collaborate on project documents and more easily connect the office to the field.
| Feb 27, 2014
PocketCake lunches CPU designed for virtual reality simulations
The company's Virtual Reality Simulation Converter Assembly is three times more powerful than the average high-performance computer and allows for up to eight people to experience a virtual reality simulation at the same time.
| Feb 26, 2014
Adaptive reuse project brings school into historic paper mill
The project features nontraditional classrooms for collaborative learning, an arts and music wing, and a technologically sophisticated global resource center.
| Feb 26, 2014
Use this app to streamline safety inspections
Using the iAuditor app, one of our Skanska teams developed electronic reports that make safety inspections more efficient, and that make it easier to address any issues emerging from them.