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AIA Index Shows Demand For Design Services Jumped In March

billings-index-compositeWashington, DC – Demand for design services in March expanded sharply from February according to a new report from The American Institute of Architects (AIA). AIA’s Architecture Billings Index (ABI) score for March was 58.0, up from a score of 51.3 in February. Any score above 50 indicates an increase in billings.

Other March numbers were strong as well, with new project inquiries and design contracts both expanding. The new project inquiries number hit 63.9 while the design contracts index rose to 60.5.  

“The spike in firm billings in March may reflect a desire to beat the continued interest rate hikes expected in the coming months,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “However, since project backlogs at architecture firms have reached seven months, a new all-time high, it appears that firms are having a difficult time keeping up with this uptick in demand for design services.”

Key ABI highlights for March include:

• Regional averages: South (57.2); Midwest (56.2); West (54.0); Northeast (46.3)

• Sector index breakdown: mixed practice (58.2); multi-family residential (57.2); commercial/industrial (55.3); institutional (50.5)

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.

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