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The report that we just released is showing spending for the year up 20%. So, we’ve obviously seen a much stronger first half of the year than was anticipated. And that’s reflected in the current projection for 2023 as a whole.
Since we’ve seen such a strong first half, the consensus is not for more acceleration in the second half. The consensus seems to be that strength is behind us and we’ll begin to moderate as we move into the second half of the year.
— Construction Dive
Baker predicts institutional construction will remain strong for the rest of this year, bolstered mainly by healthcare. Other sectors he expects to see a rebound include hospitality, K-12, and warehouses, albeit at a dampened pace for the third. He also mentions the new AIA Consensus Construction... View full entry
It’s the first time in the 20 years the AIA has collected this data that renovations have breached 50%. In 2005, toward the end of a pre-recession building boom, renovations made up approximately one-third of billings. That share has been increasing steadily since 2017, when it was 44.4%, up to 52% this year. Kermit Baker, the AIA’s chief economist, says that the last time the market for design services was so heavily weighted toward renovations was likely during the Great Depression. — Bloomberg
According to Baker, about 25% of renovation projects constitute interior remodels, while adaptive reuse schemes make up another quarter of those registered with the AIA. Just 3.8% are done in the interest of improved building energy performance, with a scant 1.6% being resiliency projects. The... View full entry
The American Institute of Architects (AIA) has published its monthly Architecture Billings Index (ABI) report for the month of June, which registers slight growth in the demand for design services relative to the previous month after a season of steep declines due to... View full entry
According to a recently published economic report from the American Institute of Architects (AIA), the nation's nonresidential construction sector is expected to see growth of "just 1.5 percent through 2020," with a "less than a one percent increase" projected for 2021. The report does little to... View full entry
After a somewhat bumpy spring and summer, the Architecture Billings Index (ABI) closed out the year on a positive note with three consecutive months of modest growth. A strong winter Architecture Billings Index Score for December: 52.5Project inquiries index: 58.7Design contracts index: 53.4 A new... View full entry
The Architecture Billings Index (ABI) registered positive growth for American architecture firms during the month of November 2019. According to a newly published report from the American Institute of Architects (AIA), the ABI scored at 51.9 last month, signaling the second month of modest... View full entry
