AIA Billings Index Slowdown Moderates In September
Washington, DC –
A slight improvement in business conditions has led to fewer architecture firms reporting declining billings, according to a new report from The American Institute of Architects (AIA). AIA’s ABI score for September was 47.0 compared to 40.0
in August (any score below 50 indicates a decline in firm billings). Last month’s score indicates overall revenue at U.S architecture firms continued to decline from August to September, however, the pace of decline slowed significantly. Inquiries
into new projects during September grew for the second time since February, with a score of 57.2 compared to 51.6 in August. The value of new design contracts moderated to a score of 48.9 in September from 46.0 the previous month.
“Despite the multi-family residential sector showing signs of improvement, overall business conditions are recovering at a disappointingly slow pace,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Other sectors may begin to
stabilize in the coming months, but across the board improvement shouldn’t be expected until the economic impact of the pandemic subsides significantly.”
Key ABI figures for September
Regional averages: Midwest (45.6); West (45.6); South (43.7); Northeast (41.5)
• Sector index breakdown: multi-family residential (54.0); mixed practice (47.3); commercial/industrial (43.3); institutional (40.5)
• Project inquiries index: 57.2
• Design contracts index: 48.9
The regional and
sector categories are calculated as a three-month moving average, whereas the
national index, design contracts and inquiries are monthly numbers.
Visit AIA’s website for more ABI information.
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.