Architectural Billings Index: April’s 2023 national Architectural Billings Index of 48.5 was down 1.9 points from March’s 50.4, which is below the expansionary zone, (<50). U.S. architecture firms specializing in Commercial and Institutional all reported a decrease in design activity in April.

Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in March 2023, 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 4.3% year on year (y/y) to $403.3 billion. On a 12MT basis, private expenditures advanced 10.4% y/y, state & local increased by 7.9% y/y, and federal spending increased 13.2% y/y.

Architectural Billings Index: March’s 2023 national Architectural Billings Index of 50.4 was up 2.4 points from February’s 48.0, which is above the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and Commercial/Industrial all reported a decrease in design activity in March.

­­­Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in February 2023, 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 6.9% year on year (y/y) to $397.9 billion. On a 12MT basis, private expenditures advanced 11.3% y/y, state & local increased by 6.8% y/y, and federal spending increased 12.6% y/y.

Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in January 2023, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that January’s three month total (3MT) construction expenditures grew by 8.0% year on year (y/y) to $417.1 billion. On a 12MT basis, private expenditures advanced 12.2% y/y, state & local increased by 5.8% y/y, and federal spending increased 11.2% y/y.

Architectural Billings Index: January’s 2023 national Architectural Billings Index of 49.3 was up 0.9 points from December’s 48.4, which is below the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and Commercial/Industrial all reported a decrease in design activity in January.