Architecture Firm Billings Remain Positive In February
DC - Architecture firm billings growth softened in February but remained positive, according to a new report from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for February was 50.3, down from 55.3 in January. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts remained positive.
“Overall business conditions at architecture firms across the country have remained generally healthy,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Firms in the south recorded continued strong design activity, likely reflecting
a healthy regional economy and ongoing rebuilding from the catastrophic 2018 hurricane season.”
Key ABI highlights for February include:
• Regional averages: South (58.3), West (51.6), Northeast (51.5), Midwest (51.3)
• Sector index breakdown: mixed practice (57.2), commercial/industrial (53.9), multi-family residential (51.6), institutional (50.9)
• Project inquiries index: 59.8
• Design contracts index: 53.1
Regional and sector categories above are calculated as a three-month moving average, whereas the national index, design contracts, and inquiries are monthly numbers.
About The American Institute Of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. Members adhere to a code of ethics and professional conduct to ensure the highest standards in professional practice. Embracing their responsibility to serve society, AIA members engage civic and government leaders and the public in helping find needed solutions to pressing issues facing our communities, institutions, nation and world. For more information, visit www.aia.org.