AIA's Architecture Billings Index Ends 25-Month Positive Streak
DC – Following consistently increasing demand for design services for over two years, the Architecture Billings Index (ABI) dipped into negative territory in March, according to a new report from The American Institute of Architects (AIA).
The ABI score for March was 47.8, down from 50.3 in February. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts remained positive.
“Though billings haven’t contracted in a while, it is important to note that it does follow on the heels of a particularly tough late winter period for much of the country,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “Many
indicators of future work at firms still remain positive, although the pace of growth of design contracts has slowed in recent months.“
Key ABI highlights for March include:
• Regional averages: South (54.2), Midwest (48.7), West (47.2), Northeast (43.5)
• Sector index breakdown: mixed practice (53.1), commercial/industrial (47.0), institutional (48.9), multi-family residential (47.7)
• Project inquiries index: 59.8
• Design contracts index: 50.8
The regional and sector categories are calculated as a 3-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.