Market Update





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June 2022

Architectural Billings Index: May’s 2022 national Architectural Billings Index of 53.5 was down 3.0 points from April’s 56.5, which is within the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and Institutional all reported an increase in design activity in May.
­­­Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in April 2022, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that April’s three month total (3MT) construction expenditures grew by 12.7% year on year (y/y) to $400.1 billion. On a 12MT basis, private expenditures advanced 16.5% y/y, state & local decreased by 0.7% y/y, and federal spend decreased 4.0% y/y.

May 2022

Architectural Billings Index: April’s 2022 national Architectural Billings Index of 56.5 was down 1.5 points from March’s 58.0, which is within the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and Institutional all reported an increase in design activity in April.
Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in March 2022, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that March’s three month total (3MT) construction expenditures grew by 14.9% year on year (y/y) to $376.6 billion. On a 12MT basis, private expenditures advanced 16.4% y/y, state & local decreased by 0.7% y/y, and federal spend decreased 5.1% y/y.

April 2022

Architectural Billings Index: March’s 2022 national Architectural Billings Index of 58.0 was up 6.7 points from February’s 51.3, which is within the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and institutional all reported an increase in design activity in March.
­­­Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in February 2022, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that February’s three month total (3MT) construction expenditures grew by 10.0% year on year (y/y) to $384.3 billion. On a 12MT basis, private expenditures advanced 16.1% y/y, state & local decreased by 0.8% y/y, and federal spend decreased 6.5% y/y.
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