Continuing its meteoric rebound, the Architecture Billings Index (ABI) recorded its third consecutive month of positive billings, according to a new report today from The American Institute of Architects (AIA).
AIA’s ABI score for April rose to 57.9 compared to 55.6 in March (any score above 50 indicates an increase in billings). Neither score has been achieved since before the Great Recession. During April, new project inquiries and new design contracts reached record highs with scores of 70.8 and 61.7 respectively.
“This recent acceleration in the demand for design services demonstrates that both consumers and businesses are feeling much more confident about the economic outlook,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “The pent-up demand for new and retrofitted facilities is keeping architecture firms in all regions and building sectors busy.”
Key ABI highlights for April include:
• Regional averages: Midwest (60.6); South (58.3); Northeast (55.0); West (52.4)
• Sector index breakdown: commercial/industrial (59.1); multi-family residential (56.9); institutional (56.7); mixed practice (55.0)
• Project inquiries index: 70.8
• Design contracts index: 61.7
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Visit AIA’s website for more ABI information.
Related Stories
Market Data | Sep 2, 2020
Public and private nonresidential construction spending slumps in July
Industry employment declines from July 2019 in two-thirds of metros.
Market Data | Aug 31, 2020
5 must reads for the AEC industry today: August 31, 2020
The world's first LEED Platinum integrated campus and reopening campus performance arts centers.
Market Data | Aug 21, 2020
5 must reads for the AEC industry today: August 21, 2020
Student housing in the COVID-19 era and wariness of elevators may stymie office reopening.
Market Data | Aug 20, 2020
6 must reads for the AEC industry today: August 20, 2020
Japan takes on the public restroom and a look at the evolution of retail.
Market Data | Aug 19, 2020
6 must reads for the AEC industry today: August 19, 2020
July architectural billings remained stalled and Florida becomes third state to adopt concrete repair code.
Market Data | Aug 18, 2020
July architectural billings remained stalled
Clients showed reluctance to sign contracts for new design projects during July.
Market Data | Aug 18, 2020
Nonresidential construction industry won’t start growing again until next year’s third quarter
But labor and materials costs are already coming down, according to latest JLL report.
Market Data | Aug 18, 2020
6 must reads for the AEC industry today: August 18, 2020
The world's first AI-driven facade system and LA's Greek Theatre restoriation completes.
Market Data | Aug 17, 2020
5 must reads for the AEC industry today: August 17, 2020
5 strategies for creating safer hotel experiences and how to manage multifamily assets when residents no longer leave.
Market Data | Aug 14, 2020
6 must reads for the AEC industry today: August 14, 2020
The largest single sloped solar array in the country and renewing the healing role of public parks.
