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
| Oct 4, 2011
GREENBUILD 2011
Click here for the latest news and products from Greenbuild 2011, Oct. 4-7, in Toronto.
| Oct 4, 2011
GREENBUILD 2011: Methods, impacts, and opportunities in the concrete building life cycle
Researchers at the Massachusetts Institute of Technology’s (MIT) Concrete Sustainability Hub conducted a life-cycle assessment (LCA) study to evaluate and improve the environmental impact and study how the “dual use” aspect of concrete.
| Oct 4, 2011
GREENBUILD 2011: Johnsonite features sustainable products
Products include rubber flooring tiles, treads, wall bases, and more.
| Oct 4, 2011
GREENBUILD 2011: Nearly seamless highly insulated glass curtain-wall system introduced
Low insulation value reflects value of entire curtain-wall system.
| Oct 4, 2011
GREENBUILD 2011: Ready-to-use wood primer unveiled
Maintains strong UV protection, clarity even with application of lighter, natural wood tones.
| Oct 4, 2011
GREENBUILD 2011: Two new recycled glass products announced
The two collections offer both larger and smaller particulates.
| Oct 4, 2011
GREENBUILD 2011: Mythic Paint launches two new paint products
A high performance paint, and a combination paint and primer now available.
| Oct 4, 2011
GREENBUILD 2011: Wall protection line now eligible to contribute to LEED Pilot Credit 43
The Cradle-to-Cradle Certified Wall Protection Line offers an additional option for customers to achieve LEED project certification.
| Oct 3, 2011
Magellan Development Group opens Village Market in Chicago’s Lakeshore East neighborhood
Magellan Development Group and Hanwha Engineering & Construction are joint-venture development partners on the project. The Village Market was designed for Silver LEED certification by Loewenberg Architects and built by McHugh Construction.
