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
Architects | Jan 26, 2016
HOK promotes Bill Hellmuth to chief executive
Hellmuth is set to replace Patrick MacLeamy, who will remain as the firm’s chairman.
Mixed-Use | Jan 25, 2016
SOM unveils renderings of dual-tower Manhattan West development
The five million-sf project includes two office towers, a residential tower, retail space, and a new public square.
Office Buildings | Jan 21, 2016
Nike reveals design, first images of planned 3.2 million-sf expansion to its world headquarters
The expansion looks to combine design elements inspired by human movement, speed, and the strength and energy of competition.
Market Data | Jan 20, 2016
Architecture Billings Index ends year on positive note
While volatility persists, architecture firms reported healthy performance for 2015.
Architects | Jan 18, 2016
EHDD’s Monterey Bay Aquarium wins AIA Twenty-five Year Award
The aquarium set new technical standards for the building type, which still influence today, such as the flow-through seawater-based heat pump system, naturalistic exhibitions, and corrosion protection.
Architects | Jan 15, 2016
Best in Architecture: 18 projects named AIA Institute Honor Award winners
Morphosis' Perot Museum and Studio Gang's WMS Boathouse are among the projects to win AIA's highest honor for architecture.
| Jan 14, 2016
How to succeed with EIFS: exterior insulation and finish systems
This AIA CES Discovery course discusses the six elements of an EIFS wall assembly; common EIFS failures and how to prevent them; and EIFS and sustainability.
Market Data | Jan 13, 2016
Morgan Stanley bucks gloom and doom, thinks U.S. economy has legs through 2020
Strong job growth and dwindling consumer debt give rise to hope.
Architects | Jan 13, 2016
‘Socially engaged’ architect Alejandro Aravena named 2016 Pritzker Architecture Prize Laureate
Known for his inventive social housing initiatives in his native Chile, Aravena epitomizes the revival of a more socially engaged architect, the Pritzker jury stated.
Architects | Jan 12, 2016
Dear Architecture: It's time to create a level field for female designers
If architecture took one moment to be introspective, it would discover appalling imbalances between the opportunities for women and men, as Perkins+Will's Vershaé Hite and Brittany Eaker-Kirkland wrote in an open letter.
