AIA Architecture Billings Index Ticked Up in April
Washington, DC May 23, 2018-The American Institute of Architects (AIA) Architecture Billings Index (ABI) score for April was 52.0 (any score over 50 is billings growth), which indicates the business environment continues to be healthy for architecture firms despite continued labor shortages, growing inflation in building material costs and rising interest rates.
The March score was 51.0.
The ABI also revealed that business conditions remained strong at firms located in the West, while billings softened slightly at Midwest firms.
“While there was slower growth in April for new project work coming into architecture firms, business conditions have remained healthy for the first four months of the year,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “Although growth in regional design activity was concentrated at firms in the sunbelt, there was balanced growth so far this year across all major construction sectors.”
Regional averages were as follows: West, 55.1; Midwest, 49.6; South, 51.8; and Northeast, 50.3.
The sector index breakdown was multi-family residential, 50.7; institutional, 52.0; commercial/industrial, 52.7; and mixed practice, 50.6.
The project inquiries index was 56.7, and the design contracts index was 50.1.