Economy
Architecture Firms Report High Demand for Design Services
Written by Sandy Williams
June 23, 2021
Demand for design services from architecture firms in the U.S. continued to be robust in May, said the American Institute of Architects. AIA’s Architecture Billings Index rose to 58.5 from 57.9 in April for one of the highest scores in the ABI’s 25-year history. The ABI has expanded every month since January.
The index for new design contracts rose to 63.2, a second consecutive record high. The new projects inquiry index was near a record high at 69.2, said AIA.
“Despite ballooning costs for construction materials and delivery delays, design activity is roaring back as more and more places reopen,” said AIA Chief Economist Kermit Baker. “However, concern over rising inflation and ongoing supply chain disruptions, as well as emerging labor shortages, could dampen the emerging construction recovery.”
The Architecture Billings Index is an economic indicator for nonresidential construction activity, with a lead time of approximately 9-12 months. A score above 50 indicates an increase in activity, and a score below 50 a decrease.
Key ABI highlights for May include:
- Regional averages: Midwest (63.4); South (59.0); West (57.4); Northeast (54.2)
- Sector index breakdown: commercial/industrial (60.6); multi-family residential (59.5); mixed practice (57.9); institutional (57.1)
Regional and sector scores are calculated as three-month averages.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.