ABI Moderates Slightly, Remains Strong

The American Institute of Architects (AIA) reports that April was the fifteenth consecutive month in which architecture firms reported increasing demand for design services.

AIA’s Architecture Billings Index score for April was 56.5. The index was measured at 58.0 in March. Any score above 50 indicates an increase in billings. During April, scores for both new project inquiries and design contracts moderated slightly, but remained strong, posting scores of 62.3 and 55.4, respectively.

Regional averages were consistently above 50, led by the West at 58.2, followed by the Midwest (57.6), South (57.3) and Northeast (53.1).

Sector index breakdown also shows all positive numbers, with mixed practice coming in at 61.2 and commercial/industrial just behind that with 60.7. Multi-family residential clocked a 57.2 and institutional projects stand at 51.8 for the month.

Dodge Momentum Index Rises in April

The April Dodge Momentum Index (DMI) was 164.8, 6% higher than the revised March reading of 155.0. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning shown to lead construction spending for nonresidential buildings by a full year. In April, the commercial component of the Momentum Index rose 9%, while the institutional component moved 2% higher.

Dodge Construction Network reports that the commercial sector has been driven by a growing number of data center, warehouse and hotel projects entering planning.

The institutional component made moderate improvements as well, as more education, healthcare and recreation projects begin the planning process. On a year-over-year basis, the Momentum Index was 17% higher than in April 2021. The commercial component was 15% higher; the institutional component was 22% higher than a year ago.

To view the laid-in version of this article in our digital edition, CLICK HERE.