Washington, D.C. - March 24, 2010 - Following a drop of nearly three points, the Architecture Billings Index (ABI) nudged up almost two points in February. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the February ABI rating was 44.8, up from a reading of 42.5 in January. This score indicates a continued decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry score was 52.0.
"We continue to hear that funding dedicated for construction projects in the stimulus package has not yet been awarded, resulting in a bottleneck of potential projects that could help jumpstart the economy," said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. "That, coupled with a persistently rigid credit market for private sector projects, is a key reason why the design and construction industry continue to suffer at near historic levels in terms of job losses."
Key February ABI highlights:
Regional averages: Midwest (49.4), Northeast (44.1), West (43.6), South (40.7)
Sector index breakdown: multi-family residential (47.3), institutional (44.2), mixed practice (43.3), commercial / industrial (43.2)
Project inquiries index: 52.0
About the AIA Architecture Billings Index
The Architecture Billings Index is derived from a monthly "Work-on-the-Boards" survey and produced by the AIA Economics & Market Research Group. Based on a comparison of data compiled since the survey's inception in 1995 with figures from the Department of Commerce on Construction Put in Place, the findings amount to a leading economic indicator that provides an approximately nine to twelve month glimpse into the future of nonresidential construction activity. The diffusion indexes contained in the full report are derived from a monthly survey sent to a panel of AIA member-owned firms. Participants are asked whether their billings increased, decreased, or stayed the same in the month that just ended. According to the proportion of respondents choosing each option, a score is generated, which represents an index value for each month. The regional and sector data is formulated using a three-month moving average.
About The American Institute of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. By using sustainable design practices, materials, and techniques, AIA architects are uniquely poised to provide the leadership and guidance needed to provide solutions to address climate change. AIA architects walk the walk on sustainable design. Visit www.aia.org
Related Stories
| Mar 7, 2014
Thom Mayne's high-tech Emerson College LA campus opens in Hollywood [slideshow]
The $85 million, 10-story vertical campus takes the shape of a massive, shimmering aircraft hangar, housing a sculptural, glass-and-aluminum base building.
| Mar 7, 2014
Learning from common leadership errors
As a leader in the AEC world, you’ll likely find yourself making certain mistakes over the course of your career. Here are a few common leadership errors that can easily be avoided.
| Mar 6, 2014
BD+C wants to hear about your breakthrough ideas and projects for the Giants 300 report
BD+C's 2014 Giants 300 survey form is now available. But completing the survey is just one way to participate in the July Giants issue.
| Mar 6, 2014
Must see: Tour Seinfeld's apartment with virtual reality headset
Fans of the show can now explore a virtual 3D model of the iconic New York residence, thanks to one Web designer's painstaking effort.
| Mar 5, 2014
5 tile design trends for 2014
Beveled, geometric, and high-tech patterns are among the hot ceramic tile trends, say tile design experts.
| Mar 4, 2014
How EIFS came to America
Design experts from Hoffmann Architects offer a brief history of exterior insulation and finish systems in the U.S.
| Mar 4, 2014
If there’s no ‘STEM crisis,’ why build more STEM schools?
Before you get your shorts in a knot, I have nothing against science, technology, engineering, or even mathematics; to the contrary, I love all four “STEM” disciplines (I’m lying about the math). But I question whether we need to be building K-12 schools that overly emphasize or are totally devoted to STEM.
| Mar 3, 2014
Negotiate your way to success
There are few business skills as important as negotiation. Many successful businesspeople pride themselves on their ability to turn a deal in their favor. Here are a few key negotiation principles to ensure you’re generally getting a good deal.
| Mar 3, 2014
5 ways to gain clients you actually like
Gaining more clients is one thing. Gaining more clients that you actually like is something else entirely. Here are some tips to perfect the art of attracting and retaining clients that you enjoy working with.
| Mar 3, 2014
Engineering and construction CEOs are cautiously optimistic about the global economy, says PwC
Firm leaders remain leery about the availability of skilled workers, the state of government debt and deficits, and rising material prices, according to PwC’s 2014 Global CEO Survey.
