Architecture Firms Say Design Activity Stays Strong during June
Architecture firms are quite happy with the strong design activity that they’ve experienced during June 2014. In the recent past, due to the struggling economy and lack of construction, architecture firms have been suffering just like everybody else. But things are beginning to change in this industry and strong design activity is a main indicator that the economy is on the rebound.
There are a number of reasons why architecture firms are starting to improve their overall outlook and performance. We will discuss some of these reasons point by point below, and you can see precisely why this industry will continue to rebound now and into the future.
June 2014 US Architecture Billings Make Strong Gains
First off, we want to point out that architecture billings in the United States have made strong gains in the month of June and continuing all the way into the summer. According to the ABI – Architecture Billings Index – for the month of June the reading was 53.3. This is immediately following a very healthy reading that was experienced in May at 52.6. Any score above 50 is a sign of true billings growth.
As you can see, the US architecture billings have improved month after month for the last two months. This is very encouraging because new design contracts mean that there is a need for further construction in order to push forward and experience further growth.
Major Construction Sectors across All Regions Becoming More Balanced
This might not seem all that surprising to some, but a balancing in major construction sectors is a definite promising piece of information to have learned. Since construction is beginning to balance all throughout the United States, it proves that the entire country is beginning to see an economic turnaround. This is a far cry from the financial destruction that was taking place back in 2008 just a few years ago.
By major construction sectors improving all across the region, we can assume that economic growth is going to continue now and into the future. There would be no need for architectural designs if these projects weren’t going to go forward. It proves that the economy is beginning to turn around and tells us that we can begin to improve as a nation right along with it.
Economic Improvements Spur Further Design Activity
A need for architectural designs is always going to come at the heels of economic improvement. Without improvement in the economy, there really wouldn’t be a need for more architectural skills. Construction would continue to stay stagnant otherwise and architecture firms would have to continue to suffer along with the rest of the home building industry. But since the economy is truly improving, there is once again a need for more design activity.
Construction Employment Is on an Upturn
The last piece of the puzzle to note is the improvement in construction employment. This proves beyond the shadow of a doubt that the US economy is beginning to turn around. Construction workers were the first to suffer during the initial housing crisis.