The commercial sector continues to lead the Architecture Billings Index (ABI) which has remained in positive territory for the fifth consecutive month. 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 AIA reported the March ABI score was 50.4, following a mark of 51.0 in February. This score reflects a slight increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 56.6, down from mark of 63.4 the previous month.
“We are starting to hear more about improving conditions in the marketplace, with a greater sense of optimism that there will be greater demand for design services,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “But that is not across the board and there are still a number of architecture firms struggling so progress is likely to be measured in inches rather than miles for the next few months.”
Key March ABI highlights:
- Regional averages: Midwest (54.1), Northeast (53.9), South (50.1), West (46.6)
- Sector index breakdown: commercial / industrial (56.0), multi-family residential (51.9),institutional (47.7), mixed practice (47.2)
- Project inquiries index: 56.6
The regional and sector categories are calculated as a three-month moving average, whereas the index and inquiries are monthly numbers. BD+C
Related Stories
Multifamily Housing | Jun 9, 2022
Cityview's Adam Perry on multifamily housing innovation in the Western U.S.
Adam Perry, SVP of Development and Construction Management with developer Cityview, chats with Multifamily Design+Construction Editor Rob Cassidy about the latest design and construction innovations for multifamily housing in the West.
Libraries | Jun 8, 2022
Welcome to the hybrid library
Libraries have grown to become the intellectual and social hubs of campus, where, prior to March 2020, students, researchers, and faculty gathered to collaborate and connect.
Building Team | Jun 8, 2022
Alastair MacGregor to lead WSP USA Property and Buildings Business
Alastair (Aly) MacGregor has been named the executive business line leader for Property and Buildings at WSP USA, one of the nation’s largest engineering and professional services consultancies.
Codes and Standards | Jun 8, 2022
Florida Legislature passes bill requiring stricter condominium inspection
The Florida Legislature recently passed a bill to beef up building inspection requirements for many of the state’s condominiums.
Office Buildings | Jun 8, 2022
Former L.A. Times newsroom/printing plant remade into office campus
Phase 1 of The Press, an adaptive reuse project that is converting an old Los Angeles Times facility into a modern office campus, was recently completed in Costa Mesa, Calif.
Codes and Standards | Jun 7, 2022
FEMA launches National Initiative to Advance Building Codes
The U.S. Federal Emergency Management Agency (FEMA) has launched a new government-wide effort to boost national resiliency and reduce energy costs.
Plumbing | Jun 7, 2022
Sloan launches ‘Sinks Beyond the Restroom’ innovation
Sloan, the world’s leading manufacturer of commercial plumbing systems, has launched its ‘Sinks Beyond the Restroom’ concept.
Building Team | Jun 7, 2022
Announcing construction inclusion week 2022: October 17-21, 2022
Save the date for Construction Inclusion Week 2022: October 17-21, 2022.
University Buildings | Jun 7, 2022
Newfoundland university STEM building emulates natural elements, local traditions
Memorial University of Newfoundland (MUN) recently opened a new building that will provide interdisciplinary learning and research space for Faculties of Science and Engineering.
Codes and Standards | Jun 2, 2022
Guide helps schools find funding for buildings from federal, state government
New Buildings Institute (NBI) recently released a guide to help schools identify funding programs for facilities improvements available from federal and state government programs.