AIA Billings Index Shows Growth Again in October

Washington, DC, Nov. 19, 2014 -- Headed by the continued strength in the multi-family residential market and the emerging growth for institutional projects, demand for design services continued to expand in October, according to the Architecture Billings Index.

The American Institute of Architechts said its index reading was was 53.7, down from 55.2 in September.

Any score above 50 indicates an increase in billings. The new projects inquiry index was 62.7, following a mark of 64.8 the previous month.

The score for design contracts in October was 56.4.

“Though it has been slow in emerging, we’re finally seeing some momentum develop in design activity for nonprofits and municipal governments, and as such we’re seeing a new round of activity in the institutional sector,” said AIA Chief Economist Kermit Baker.

“It will be interesting to see if and how the results of the mid-term Congressional and gubernatorial elections impact this developing momentum.”

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