AIA Billings Index Survey Declines Slightly In November
Washington, DC – Architecture
firm billing activity contracted in November after two months of a slowing decline, according to a new report from the American Institute of Architects (AIA). The pace of decline during November accelerated from October, posting an Architecture Billings
Index (ABI) score of 46.3 from 47.5 (any score below 50 indicates a decline in firm billings).
One a more encouraging note, the pace of inquiries into new projects slowed too, but remained in positive territory with a score of 52.0. The value of new design contracts did decline though, dipping back into negative territory with a score 48.6.
“In previous design cycles, we typically haven’t seen a straight line back to growth after a downturn hits,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “The path to recovery is shaping up to be bumpier than we hoped
for. While there are pockets of optimism in design services demand, the overall construction landscape remains depressed.”
Key ABI highlights for
• Regional averages: Midwest (50.1); West (48.3); South (46.7); Northeast (38.7)
• Sector index breakdown: multi-family residential (52.2); mixed practice (49.5); commercial/industrial (47.5); institutional (41.9)
• Project inquiries index: 52.0
• Design contracts index: 48.6
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.