Architecture Billings Dropped 1 Point but Still Positive in March
Washington, DC, April 19, 2018-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for March was 51.0 (any score over 50 indicates billings growth), which still reflects a healthy business environment.
February’s score was 52.
While business conditions softened somewhat at firms located in the Northeast region, billings remained strong at firms located in the South and West regions.
“New project activity coming into architecture firms continues to grow at a solid pace. As a result, project backlogs-in excess of six months at present-are at their highest post-recession level,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “Business remains strong in the South and West, and firms with a residential specialization continue to set the pace.”
Regional averages were as follows: west, 53.4; Midwest, 50.7; south, 53.2; and northeast, 49.0.
The Sector index breakdown was multi-family residential, 53.4; institutional, 49.7; commercial/industrial, 53.1; and mixed practice, 51.1.
The project inquiries index was 58.1, and the design contracts index was 51.5.