Washington, D.C. - March 24, 2010 - 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. The American Institute of Architects (AIA) reported the February ABI rating was 44.8, up from a reading of 42.5 in January. This score indicates a continued decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry score was 52.0.
"We continue to hear that funding dedicated for construction projects in the stimulus package has not yet been awarded, resulting in a bottleneck of potential projects that could help jumpstart the economy," said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. "That, coupled with a persistently rigid credit market for private sector projects, is a key reason why the design and construction industry continue to suffer at near historic levels in terms of job losses."
Key February ABI highlights:
Regional averages: Midwest (49.4), Northeast (44.1), West (43.6), South (40.7)
Sector index breakdown: multi-family residential (47.3), institutional (44.2), mixed practice (43.3), commercial / industrial (43.2)
Project inquiries index: 52.0
About the AIA Architecture Billings Index
The Architecture Billings Index is derived from a monthly "Work-on-the-Boards" survey and produced by the AIA Economics & Market Research Group. Based on a comparison of data compiled since the survey's inception in 1995 with figures from the Department of Commerce on Construction Put in Place, the findings amount to a leading economic indicator that provides an approximately nine to twelve month glimpse into the future of nonresidential construction activity. The diffusion indexes contained in the full report are derived from a monthly survey sent to a panel of AIA member-owned firms. Participants are asked whether their billings increased, decreased, or stayed the same in the month that just ended. According to the proportion of respondents choosing each option, a score is generated, which represents an index value for each month. The regional and sector data is formulated using a three-month moving average.
About The American Institute of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. By using sustainable design practices, materials, and techniques, AIA architects are uniquely poised to provide the leadership and guidance needed to provide solutions to address climate change. AIA architects walk the walk on sustainable design. Visit www.aia.org
Related Stories
| May 18, 2011
Former Bronx railyard redeveloped as shared education campus
Four schools find strength in numbers at the new 2,310-student Mott Haven Campus in New York City. The schools—three high schools and a K-4 elementary school—coexist on the 6.5-acre South Bronx campus, which was once a railyard.
| May 18, 2011
Eco-friendly San Antonio school combines history and sustainability
The 113,000-sf Rolling Meadows Elementary School in San Antonio is the Judson Independent School District’s first sustainable facility, with green features such as vented roofs for rainwater collection and regionally sourced materials.
| May 18, 2011
New Reform Jewish Independent school opens outside Boston
The Rashi School, one of only 17 Reform Jewish independent schools in North American and Israel, opened a new $30 million facility on a 166-acre campus shared with the Hebrew SeniorLife community on the Charles River in Dedham, Mass.
| May 18, 2011
Design diversity celebrated at Orange County club
The Orange County, Calif., firm NKDDI designed the 22,000-sf Luna Lounge & Nightclub in Pomona, Calif., to be a high-end multipurpose event space that can transition from restaurant to lounge to nightclub to music venue.
| May 18, 2011
Lab personnel find comfort in former Winchester gun factory
The former Winchester Repeating Arms Factory in New Haven, Conn., is the new home of PepsiCo’s Biology Innovation Research Laboratory.
| May 18, 2011
Addition provides new school for pre-K and special-needs kids outside Chicago
Perkins+Will, Chicago, designed the Early Learning Center, a $9 million, 37,000-sf addition to Barrington Middle School in Barrington, Ill., to create an easily accessible and safe learning environment for pre-kindergarten and special-needs students.
| May 18, 2011
Raphael Viñoly’s serpentine-shaped building snakes up San Francisco hillside
The hillside location for the Ray and Dagmar Dolby Regeneration Medicine building at the University of California, San Francisco, presented a challenge to the Building Team of Raphael Viñoly, SmithGroup, DPR Construction, and Forell/Elsesser Engineers. The 660-foot-long serpentine-shaped building sits on a structural framework 40 to 70 feet off the ground to accommodate the hillside’s steep 60-degree slope.
| May 18, 2011
New center provides home to medical specialties
Construction has begun on the 150,000-sf Medical Arts Pavilion at the University Medical Center in Princeton, N.J.
| May 18, 2011
Improvements add to Detroit convention center’s appeal
Interior and exterior renovations and updates will make the Detroit Cobo Center more appealing to conventioneers. A new 40,000-sf ballroom will take advantage of the center’s riverfront location, with views of the river and downtown.
