On the heels of a nearly three-point increase, the Architecture Billings Index (ABI) climbed into positive terrain for the first time in five months. 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 August ABI score was 50.2, up from the mark of 48.7 in July. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.2, up from mark of 56.3 the previous month.
“Until the economy is on firmer ground, there aren’t likely to be strong increases in demand for design services,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “In the meantime, we can expect to see design activity alternate between modest growth and modest decline.”
Key August ABI highlights:
- Regional averages: South (52.2), West (51.2), Northeast (45.5), Midwest (45.3)
- Sector index breakdown: multi-family residential (53.0), institutional (50.2) commercial/industrial (47.9), mixed practice (46.8)
- Project inquiries index: 57.2. +
Related Stories
Architects | Jul 7, 2022
Page acquires AE giant EYP to form 1,300-person international design firm
The combined firm will “be able to invest in research and thought leadership to co-create with our clients,” stated Page CEO Thomas McCarthy.
Building Team | Jul 7, 2022
Report explores improving architect/contractor relationship
A new study by the American Institute of Architects and the Associated General Contractors of America focuses on improving the relationship between architects and contractors.
Airports | Jul 7, 2022
Love at first flight: The power of first impressions in airports
As architects, how we design a terminal and choreograph the passenger experience can stir up strong feelings.
Building Team | Jul 7, 2022
Amenity-rich rental property in Chicago includes seven-story atrium with vertical landscaping
The recently opened 198-unit Optima Lakeview luxury rental apartment building in Chicago is bursting with amenities such as the region’s first year-round rooftop pool, contact-free in-home package delivery, housekeeping services, on-site room service, fitness programming, and a virtual personal assistant.
Multifamily Housing | Jul 6, 2022
The power of contextual housing development
Creating urban villages and vibrant communities starts with a better understanding of place, writes LPA's Matthew Porreca.
Building Team | Jul 6, 2022
Buro Happold selects Jennifer Price for top role, US Managing Director
Buro Happold, a world-class practice of 2,200 engineers and consultants, has announced the appointment of Seattle-based Jennifer Price as US Managing Director and Partner.
University Buildings | Jul 6, 2022
Wenzhou-Kean University opens a campus building that bridges China’s past and future
After pandemic-related stops and starts, Wenzhou-Kean University’s Ge Hekai Hall has finally begun to see full occupancy.
Security and Life Safety | Jul 5, 2022
What AEC firms should look for in a cybersecurity partner
When looking for expert partners in cybersecurity, AEC firms will find quite a lot of companies claiming to be at the forefront of modern threats. Here are five key points to look for when choosing a cybersecurity firm.
Performing Arts Centers | Jul 5, 2022
Tour the new Patricia Reser Center for the Arts in Oregon
This month, the community of Beaverton, Oregon, welcomed a new haven for artistic expression with the opening of Patricia Reser Center for the Arts (The Reser).
Building Team | Jul 5, 2022
Dallas’ Fair Park, home to the State Fair of Texas, will place a park atop a new parking garage
A registered National Historic Landmark, Fair Park is the 227-acre home to the Texas State Fair and various cultural institutions in Dallas, Tex.
