AIA Architecture Billings Index Climbed to 47 in September
Washington, DC, October 22, 2020-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for September was 47.0 compared to 40.0 in August (any score below 50 indicates a decline in firm billings).
Last month’s score indicates overall revenue at U.S architecture firms continued to decline from August to September, however, the pace of decline slowed significantly. Inquiries into new projects during September grew for the second time since February, with a score of 57.2 compared to 51.6 in August. The value of new design contracts moderated to a score of 48.9 in September from 46.0 the previous month.
“Despite the multi-family residential sector showing signs of improvement, overall business conditions are recovering at a disappointingly slow pace,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “Other sectors may begin to stabilize in the coming months, but across the board improvement shouldn’t be expected until the economic impact of the pandemic subsides significantly.”
Regional averages were as follows: Midwest, 45.6; West, 45.6; South, 43.7; and Northeast, 41.5.
The sector index breakdown was multi-family residential, 54.0; mixed practice, 47.3; commercial/industrial, 43.3; and institutional, 40.5.
The project inquiries index was 57.2, and the design contracts index was 48.9.
Related Topics:The American Institute of Architects