Led by the commercial sector, the Architecture Billings Index (ABI) has remained in positive territory four months in a row. 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 score was 51.0, following a mark of 50.9 in January. 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 63.4, up from mark of 61.2 the previous month and its highest reading since July 2007.
“This is more good news for the design and construction industry that continues to see improving business conditions,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “The factors that are preventing a more accelerated recovery are persistent caution from clients to move ahead with new projects, and a continued difficulty in accessing financing for projects that developers have decided to pursue.”
Key February ABI highlights:
- Regional averages: Midwest (56.0), South (51.3), Northeast (51.0), West (45.6)
- Sector index breakdown: commercial / industrial (55.1), multi-family residential (53.3), institutional (50.3), mixed practice (46.3)
- Project inquiries index: 63.4
The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers. BD+C
Related Stories
| Aug 11, 2010
USGBC honors Brad Pitt's Make It Right New Orleans as the ‘largest and greenest single-family community in the world’
U.S. Green Building Council President, CEO and Founding Chair Rick Fedrizzi today declared that the neighborhood being built by Make It Right New Orleans, the post-Katrina housing initiative launched by actor Brad Pitt, is the “largest and greenest community of single-family homes in the world” at the annual Clinton Global Initiative meeting in New York.
| Aug 11, 2010
AIA report estimates up to 270,000 construction industry jobs could be created if the American Clean Energy Security Act is passed
With the encouragement of Senate majority leader Harry Reid (D-NV), the American Institute of Architects (AIA) conducted a study to determine how many jobs in the design and construction industry could be created if the American Clean Energy Security Act (H.R. 2454; also known as the Waxman-Markey Bill) is enacted.
| Aug 11, 2010
Architect Michael Graves to be inducted into the N.J. Hall of Fame
Architect Michael Graves of Princeton, N.J., being inducted into the N.J. Hall of Fame.
| Aug 11, 2010
Modest rebound in Architecture Billings Index
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.
| Aug 11, 2010
Architecture firms NBBJ and Chan Krieger Sieniewicz announce merger
NBBJ, a global architecture and design firm, and Chan Krieger Sieniewicz, internationally-known for urban design and architecture excellence, announced a merger of the two firms.
| Aug 11, 2010
Nation's first set of green building model codes and standards announced
The International Code Council (ICC), the American Society of Heating, Refrigerating and Air Conditioning Engineers (ASHRAE), the U.S. Green Building Council (USGBC), and the Illuminating Engineering Society of North America (IES) announce the launch of the International Green Construction Code (IGCC), representing the merger of two national efforts to develop adoptable and enforceable green building codes.
| Aug 11, 2010
David Rockwell unveils set for upcoming Oscar show
The Academy of Motion Picture Arts and Sciences and 82nd Academy Awards® production designer David Rockwell unveiled the set for the upcoming Oscar show.
| Aug 11, 2010
More construction firms likely to perform stimulus-funded work in 2010 as funding expands beyond transportation programs
Stimulus funded infrastructure projects are saving and creating more direct construction jobs than initially estimated, according to a new analysis of federal data released today by the Associated General Contractors of America. The analysis also found that more contractors are likely to perform stimulus funded work this year as work starts on many of the non-transportation projects funded in the initial package.
