AIA Architectural Billings Index Dropped to 33.3 in March
Washington, DC, April 23, 2020-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score of 33.3 for March reflects a decrease in design services provided by U.S. architecture firms (any score below 50 indicates a decrease in billings).
During March, both the new project inquiries and design contracts scores dropped dramatically, posting scores of 23.8 and 27.1 respectively.
“Though most architecture firms have made quick transitions to remote operations, the complete shutdown of business activity is severely impacting architects,” said AIA chief economist Kermit Baker. “The dramatic pullback in new and ongoing design projects reflects just how quickly and fundamentally business conditions have changed across the country and around the world in the last month as a result of the COVID-19 pandemic.”
Regional averages were as follows: West, 45.3; South, 44.2; Midwest. 44.2; and Northeast, 38.4.
The sector index breakdown was institutional, 46.9; multi-family residential, 43.3; commercial/industrial, 41.9; and mixed practice, 40.6.
The project inquiries index was 23.8, and the design contracts index was 27.1.
Related Topics:The American Institute of Architects