For the second consecutive month, the Architecture Billings Index (ABI) indicated a modest increase in design activity in March. 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 51.7, up from a mark of 50.4 in February. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.2, up from a reading of 56.6 the previous month.
“Business conditions at architecture firms generally are quite healthy across the country. However, billings at firms in the Northeast were set back with the severe weather conditions, and this weakness is apparent in the March figures,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “The multi-family residential market has seen its first occurrence of back-to-back negative months for the first time since 2011, while the institutional and commercial sectors are both on solid footing.”
Key March ABI highlights:
• Regional averages: South (54.5), Midwest (51.0), West (50.4), Northeast (45.8)
• Sector index breakdown: institutional (53.2), commercial / industrial (53.0), multi-family residential (49.7), mixed practice (46.2)
• Project inquiries index: 58.2
• Design contracts index: 52.3
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
About the AIA Architecture Billings Index
The Architecture Billings Index (ABI), produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine to twelve month glimpse into the future of nonresidential construction spending activity. The diffusion indexes contained in the full report are derived from a monthly “Work-on-the-Boards” survey that is sent to a panel of AIA member-owned firms. More at: http://www.aia.org/practicing/economics/AIAS076265
Related Stories
| Apr 2, 2012
Gilbane honored for sustainability efforts in Indianapolis
Emmitt J. Bean Federal Center project team for their role in advancing sustainability in the city.
| Apr 2, 2012
Mitsubishi unveils ultra-high-speed elevator for Shanghai skyscraper
The operation of the elevator is scheduled to begin in 2014.
| Apr 2, 2012
Sachse Construction helps complete Salt Lake City’s City Creek Center
Sachse was hired to complete store build-outs at City Creek Center.
| Apr 2, 2012
Culver joins Sasaki as managing director
Culver will work closely with Sasaki firm leaders on issues of strategy, marketing, and business development.
| Apr 2, 2012
EB-5 investment funds new Miramar, Fla. business complex
Riviera Point Holdings breaks ground on $17 million office center.
| Mar 30, 2012
New windows and doors revitalize older buildings
With their improved aesthetics, energy efficiency, and durability, replacement windows and doors can add significant value to a renovation project.
| Mar 30, 2012
18 handy tablet apps for AEC professionals
Check out these helpful apps for everyday design and construction tasks. Our favorite: MagicPlan, which uses GPS to help you measure and draw a floor plan of any room.
| Mar 29, 2012
U.K.’s Manchester Airport tower constructed in nine days
Time-lapse video shows construction workers on the jobsite for 222 continuous hours.
| Mar 29, 2012
Roller shade operating system wins IF Product Design Award
Design experts in the iF jury recognized the engineering invested in the RB 500 Roller Shade, including a metal clutch with a patented construction, a durable zamac housing with polished finish, and a chain drive unit that excels in maximum operating comfort.
| Mar 29, 2012
Lehigh engineering student wins Thornton Tomasetti Foundation Awards Scholarship
The scholarship is awarded annually to a graduate student in structural engineering deemed by the department to have the potential to make an impact in the field professionally.
