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Tag Archives: Kermit Baker
Architecture Billings Index Softens in February
The Architecture Billings Index (ABI) decreased in February 2023, reports the American Institute of Architects (AIA). February’s reading of 48.0 is a slight drop from January’s score of 49.3, a softening that AIA officials state is a positive sign. The … Continue reading
Nonresidential Construction Spending Expected to Slow Throughout 2023
Nonresidential construction will moderate in 2023 and slow significantly in 2024, the American Institute of Architects (AIA) reports. AIA chief economist Kermit Baker says the U.S. economy will face mounting challenges in 2023 thanks to inflation, rising interest rates and … Continue reading
Demand for Design Services Rapidly Accelerates
The American Institute of Architects (AIA) reports that demand for design services in March rose sharply from February. AIA’s Architecture Billings Index (ABI) score for March was 58.0, up from February’s score of 51.3. Any score above 50 indicates an … Continue reading
Demand for Design Services Moderates but Remains Strong
According to a new report from The American Institute of Architects (AIA), architecture firms reported increasing demand for design services in October. The ABI score for October was 54.3, which is down slightly from September’s score of 56.6, but still … Continue reading
Construction Outlook: No Good News for Labor, Shift in Office Construction
Annual predictions surrounding overall construction activity always include a mix of good and bad news. Perhaps the institutional segment is strong, while office construction is stagnant. Often, economists would point to the future, even a year or two out, and … Continue reading
