The Architecture Billings Index reflects consecutive months of increasing demand for design activity at architecture firms.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the March ABI score was 51.9, up from the mark of 50.3 in the previous month. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.1, down from a reading of 59.5 the previous month.
“The first quarter was somewhat disappointing in terms of the growth of design activity, but fortunately expanded a bit entering the traditionally busy spring season. The Midwest is lagging behind the other regions, but otherwise business conditions are generally healthy across the country,” AIA Chief Economist, Kermit Baker, Hon. AIA, PhD, said in a statement. “As the institutional market has cooled somewhat after a surge in design activity a year ago, the multi-family sector is reaccelerating at a heathy pace.”
Key March ABI highlights:
- Regional averages: South (52.4), Northeast (51.0), West (50.4), Midwest (49.8)
- Sector index breakdown: multi-family residential (55.7), commercial/industrial (51.8), mixed practice (50.0), institutional (48.0)
- Project inquiries index: 58.1
- Design contracts index: 51.8
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
Market Data | Apr 20, 2021
Demand for design services continues to rapidly escalate
AIA’s ABI score for March rose to 55.6 compared to 53.3 in February.
Market Data | Apr 16, 2021
Construction employment in March trails March 2020 mark in 35 states
Nonresidential projects lag despite hot homebuilding market.
Market Data | Apr 13, 2021
ABC’s Construction Backlog slips in March; Contractor optimism continues to improve
The Construction Backlog Indicator fell to 7.8 months in March.
Market Data | Apr 9, 2021
Record jump in materials prices and supply chain distributions threaten construction firms' ability to complete vital nonresidential projects
A government index that measures the selling price for goods used construction jumped 3.5% from February to March.
Contractors | Apr 9, 2021
Construction bidding activity ticks up in February
The Blue Book Network's Velocity Index measures month-to-month changes in bidding activity among construction firms across five building sectors and in all 50 states.
Industry Research | Apr 9, 2021
BD+C exclusive research: What building owners want from AEC firms
BD+C’s first-ever owners’ survey finds them focused on improving buildings’ performance for higher investment returns.
Market Data | Apr 7, 2021
Construction employment drops in 236 metro areas between February 2020 and February 2021
Houston-The Woodlands-Sugar Land and Odessa, Texas have worst 12-month employment losses.
Market Data | Apr 2, 2021
Nonresidential construction spending down 1.3% in February, says ABC
On a monthly basis, spending was down in 13 of 16 nonresidential subcategories.
Market Data | Apr 1, 2021
Construction spending slips in February
Shrinking demand, soaring costs, and supply delays threaten project completion dates and finances.
Market Data | Mar 26, 2021
Construction employment in February trails pre-pandemic level in 44 states
Soaring costs, supply-chain problems jeopardize future jobs.
