AIA's Architecture Billings Index Rebounds In October
Washington, DC - Following a two month decline in demand for design services, architecture billings got a bounce in October, according to a new report released from the American Institute of Architects (AIA).
The Architecture Billings Index (ABI) score in October is 52.0, up from the September score of 49.7. This score reflects an increase in design services (any score above 50 indicates an increase in billings). During October, both the new project inquiries
and design contracts scores moderated from September but remained positive, posting scores of 57.9 and 52.9 respectively.
“Although ongoing uncertainty over the direction of economic growth persists, a strong stock market and growing payrolls at U.S. businesses continue to generate more construction projects,” said AIA Chief Economist Kermit Baker, PhD, Hon.
AIA. “With most regional and sector billing scores at architecture firms improving from the previous month, we’re seeing a bit of a rebound from disappointing levels of design activity in recent months.”
Key ABI highlights for
• Regional averages: South (55.5); West (51.3); Midwest (49.9); Northeast (47.2)
• Sector index breakdown: mixed practice (55.2); multi-family residential (54.0); institutional (49.9); commercial/industrial (49.3)
Project inquiries index: 57.9
• Design contracts index: 52.9
The regional and
sector categories 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.