Architecture Billings Index Rose to 54.7 in January
Washington, DC, February 22, 2018-The American Institute of Architects (AIA) reported the January Architecture Billings Index (ABI) score was 54.7, up from a score of 52.8 in the previous month.
This score reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.1, down from a reading of 62.0 the previous month, while the new design contracts index increased slightly from 53.4 to 53.9.
“Healthy conditions continue across all sectors and regions except the Northeast, where firm billings softened for the second consecutive month,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “With strong billings and healthy growth in new projects to start the year, firms remain generally optimistic about business conditions for the next several months.”
Regional averages were as follows: west, 56.2); south, 55.3; Midwest, 54.8; and northeast, 47.3.
The sector index breakdown was multi-family residential, 56.0; commercial/industrial, 53.3; institutional, 52.5; and mixed practice, 50.1.
The project inquiries index was 61.1, and the design contracts index was 53.9.