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
| Sep 23, 2013
The art of rewarding employees
What’s the best way to reward those employees who go the extra mile, particularly when it’s not always feasible to give large financial bonuses? According to author and “recognition expert” Dr. Bob Nelson, the most effective employee rewards are also the least expensive.
| Sep 23, 2013
Six-acre Essex Crossing development set to transform vacant New York property
A six-acre parcel on the Lower East Side of New York City, vacant since tenements were torn down in 1967, will be the site of the new Essex Crossing mixed-use development. The product of a compromise between Mayor Michael Bloomberg and various interested community groups, the complex will include ~1,000 apartments.
| Sep 20, 2013
August housing starts reveal multifamily still healthy but single-family stagnating
Peter Muoio, Ph.D., senior principal and economist with Auction.com Research, says the Census Bureau's August Housing Starts data released yesterday hints at improvements in the single-family sector with multifamily slowing down.
| Sep 19, 2013
What we can learn from the world’s greenest buildings
Renowned green building author, Jerry Yudelson, offers five valuable lessons for designers, contractors, and building owners, based on a study of 55 high-performance projects from around the world.
| Sep 19, 2013
6 emerging energy-management glazing technologies
Phase-change materials, electrochromic glass, and building-integrated PVs are among the breakthrough glazing technologies that are taking energy performance to a new level.
| Sep 18, 2013
Annual SteelDay to include 125 free events around the U.S.
Hosted by the American Institute of Steel Construction (AISC), its members and partners, SteelDay invites the AEC community and the public to see the contributions the industry has made in the design and construction of steel buildings and bridges.
| Sep 18, 2013
WHR Architects opens first European office, in Copenhagen
WHR Architects has opened its first European office in Copenhagen, Denmark. The decision to locate in the Danish capital was spurred by the Danish healthcare system’s initiative to renew and expand their facilities across the country.
| Sep 17, 2013
NCARB convenes special task force to explore additional pathways to architectural licensure
Potential new pathways to architectural licensure are being explored through the work of a new Licensure Task Force launched by the National Council of Architectural Registration Boards (NCARB). Led by NCARB Immediate Past President Ronald B. Blitch, FAIA, FACHA, NCARB, the group held its first meeting at NCARB offices on September 6-7 in Washington, DC.
| Sep 17, 2013
SMPS Foundation announces new business development research book
The SMPS Foundation has released its latest research book, A/E/C BUSINESS DEVELOPMENT – The Decade Ahead.
| Sep 17, 2013
Healthcare project will merge outpatient clinic with YMCA to promote wellness and prevention
Penrose-St. Francis Health Services and the YMCA of the Pikes Peak Region announce collaboration, along with developer The Boldt Company, to create next-generation wellness facility.
