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
| Jul 24, 2013
Architecture Billings Index dips slightly in June, but demand for design services remains positive
All building sectors are seeing an increase in demand for architectural services, according to AIA's Architecture Billings Index for June.
| Jul 23, 2013
Paul Bertram to speak at ACEEE Summer Study on Energy Efficiency
Paul Bertram, FCSI, CDT, LEED AP and director of environment and sustainability for Kingspan Insulated Panels N.A., will present a white paper during the American Council for an Energy Efficient Economy (ACEEE) 2013 Summer Study on Energy Efficiency in Industry.
| Jul 22, 2013
School officials and parents are asking one question: Can design prevent another Sandy Hook? [2013 Giants 300 Report]
The second deadliest mass shooting by a single person in U.S. history galvanizes school officials, parents, public officials, and police departments, as they scrambled to figure out how to prevent a similar incident in their communities.
| Jul 22, 2013
Competitive pressures push academia to improve residences, classrooms, rec centers [2013 Giants 300 Report]
College and university construction continues to suffer from strained government spending and stingy commercial credit.
| Jul 22, 2013
Top K-12 School Sector Construction Firms [2013 Giants 300 Report]
Gilbane, Balfour Beatty, Turner top Building Design+Construction's 2013 ranking of the largest K-12 school sector contractors and construction management firms in the U.S.
| Jul 22, 2013
Top K-12 School Sector Engineering Firms [2013 Giants 300 Report]
AECOM, URS, STV top Building Design+Construction's 2013 ranking of the largest K-12 school sector engineering and engineering/architecture firms in the U.S.
| Jul 22, 2013
Top K-12 School Sector Architecture Firms [2013 Giants 300 Report]
DLR, SHW top Building Design+Construction's 2013 ranking of the largest K-12 school sector architecture and architecture/engineering firms in the U.S.
| Jul 22, 2013
Top University Sector Construction Firms [2013 Giants 300 Report]
Whiting-Turner, Turner, Skanska top Building Design+Construction's 2013 ranking of the largest university sector contractors and construction management firms.
| Jul 22, 2013
Top University Sector Engineering Firms [2013 Giants 300 Report]
Affiliated Engineers, URS, AECOM top Building Design+Construction's 2013 ranking of the largest university sector engineering and engineering/architecture firms in the U.S.
| Jul 22, 2013
Top University Sector Architecture Firms [2013 Giants 300 Report]
Cannon, Perkins+Will, Stantec top Building Design+Construction's 2013 ranking of the largest university sector architecture and architecture/engineering firms in the U.S.
