flexiblefullpage -
billboard - default
interstitial1 - interstitial
Currently Reading

Architecture Billings Index slows but remains strong

Market Data

Architecture Billings Index slows but remains strong

While this score is down from April’s score of 56.5, it still indicates very strong business conditions overall (any score above 50 indicates an increase in billings from the prior month).


By AIA | June 22, 2022
Architecture Billings Index Design Services
Courtesy Pixabay.

Architecture firms reported increasing demand for design services in May, according to a new report today from The American Institute of Architects (AIA).

The ABI score for May was 53.5. While this score is down from April’s score of 56.5, it still indicates very strong business conditions overall (any score above 50 indicates an increase in billings from the prior month). Also in May, both the new project inquiries and design contracts indexes expanded, posting scores of 63.9 and 56.9 respectively.  

“The strength in design activity over the past three months has produced a broader base of gains. The Northeast region and Institutional sector have struggled with slow billings activity, but now have posted consecutive months of positive scores.” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “With the improvement in inquiries and new design projects, demand for design services will likely remain high for the next several months, despite strong economic headwinds.” 

Key ABI highlights for May include:

  • Regional averages: West (59.3); Midwest (56.8); South (52.3); Northeast (51.4)
  • Sector index breakdown: commercial/industrial (57.7); mixed practice (56.2); multi-family residential (54.5); institutional (51.7)

The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.

To learn more about recent economic developments impacting design and construction, visit AIA’s website.

Related Stories

Market Data | Feb 15, 2022

Materials prices soar 20% between January 2021 and January 2022

Contractors' bid prices accelerate but continue to lag cost increases.

Market Data | Feb 4, 2022

Construction employment dips in January despite record rise in wages, falling unemployment

The quest for workers intensifies among industries.

Market Data | Feb 2, 2022

Majority of metro areas added construction jobs in 2021

Soaring job openings indicate that labor shortages are only getting worse.

Market Data | Feb 2, 2022

Construction spending increased in December for the month and the year

Nonresidential and public construction lagged residential sector.

Market Data | Jan 31, 2022

Canada's hotel construction pipeline ends 2021 with 262 projects and 35,325 rooms

At the close of 2021, projects under construction stand at 62 projects/8,100 rooms.

Market Data | Jan 27, 2022

Record high counts for franchise companies in the early planning stage at the end of Q4'21

Through year-end 2021, Marriott, Hilton, and IHG branded hotels represented 585 new hotel openings with 73,415 rooms.

Market Data | Jan 27, 2022

Dallas leads as the top market by project count in the U.S. hotel construction pipeline at year-end 2021

The market with the greatest number of projects already in the ground, at the end of the fourth quarter, is New York with 90 projects/14,513 rooms.

Market Data | Jan 26, 2022

2022 construction forecast: Healthcare, retail, industrial sectors to lead ‘healthy rebound’ for nonresidential construction

A panel of construction industry economists forecasts 5.4 percent growth for the nonresidential building sector in 2022, and a 6.1 percent bump in 2023.

Market Data | Jan 24, 2022

U.S. hotel construction pipeline stands at 4,814 projects/581,953 rooms at year-end 2021

Projects scheduled to start construction in the next 12 months stand at 1,821 projects/210,890 rooms at the end of the fourth quarter.

Market Data | Jan 19, 2022

Architecture firms end 2021 on a strong note

December’s Architectural Billings Index (ABI) score of 52.0 was an increase from 51.0 in November.

boombox1 - default
boombox2 -
native1 -

More In Category




halfpage1 -

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021

 


Magazine Subscription
Subscribe

Get our Newsletters

Each day, our editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Subscribe

Follow BD+C: