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 10, 2014
Ball State to host Geothermal Conference on design, drilling and equipment - April 10, 2014
To best serve the industry, Ball State University has organized a single day conference in which participants will be able to exchange technical notes, develop understandings and share experiences with design, drilling, and equipment issues related to geothermal ground source heat pump technology.
| Feb 7, 2014
DOE, Autodesk team to overhaul the EnergyPlus simulation program
The update will allow a larger ecosystem of developers to contribute updates to the code in order to improve performance and decrease the time required to run energy model simulations.
| Feb 7, 2014
Meet the new Fellows: AIA elevates 143 to College of Fellows
The AIA College of Fellows is an honor awarded to members who have made significant contributions to the architectural profession.
| Feb 7, 2014
Bernards announces executive leadership realignment
Changes reflect long-term growth plans as builder enters its fifth decade.
| Feb 7, 2014
Zaha Hadid's 'white crystal' petroleum research center taking shape in the desert [slideshow]
Like a crystalline form still in the state of expansion, the King Abdullah Petroleum Studies and Research Center will rise from the desert in dramatic fashion, with a network of bright-white, six-sided cells combining to form an angular, shell-like façade.
| Feb 6, 2014
First look: Gensler ups the ante on airport design with new SFO boarding area
The new terminal features a yoga room, award-winning arts program, and an interactive play area for kids.
| Feb 6, 2014
End of the open workplace?
If you’ve been following news about workplace design in the popular media, you might believe that the open workplace has run its course. While there’s no shortage of bad open-plan workplaces, there are two big flaws with the now common claim that openness is bad.
| Feb 6, 2014
New Hampshire metal building awes visitors
Visitors to the Keene Family YMCA in New Hampshire are often surprised by what they encounter. Liz Coppola calls it the “wow factor.” “Literally, there’s jaw dropping,” says Coppola, director of financial and program development for the Keene Family YMCA.
| Feb 5, 2014
M&A activity down in 2013 among architecture, engineering firms: Report
In 2013, consultant Morrissey Goodale observed 168 sales of U.S.-based architecture and engineering (“A/E”) firms – down nearly 7% from the record 180 sales of U.S.-based A/E firms in 2012.
| Feb 5, 2014
BIA Opens Entries for 25th Annual Brick in Architecture Awards
Entries open on February 10 for the Brick Industry Association's (BIA) Brick in Architecture Awards. Celebrating its silver anniversary, BIA's annual honors spotlight outstanding, innovative and sustainable architecture that incorporates clay brick products as the predominant exterior building or paving material.
