April's AIA Architecture Billings Index Hit Highest Level Since Great Recession
Washington, DC, May 20, 2021-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for April rose to 57.9 compared to 55.6 in March (any score above 50 indicates an increase in billings).
Neither score has been achieved since before the Great Recession. During April, new project inquiries and new design contracts reached record highs with scores of 70.8 and 61.7 respectively.
“This recent acceleration in the demand for design services demonstrates that both consumers and businesses are feeling much more confident about the economic outlook,” said AIA chief economist kermit Baker, Hon. AIA, PhD. “The pent-up demand for new and retrofitted facilities is keeping architecture firms in all regions and building sectors busy.”
Regional averages were as follows: Midwest (60.6); South (58.3); Northeast (55.0); West (52.4).
The Sector index breakdown was commercial/industrial (59.1); multi-family residential (56.9); institutional (56.7); mixed practice (55.0).
The project inquiries index score was 70.8, and the design contracts index score was 61.7.
Related Topics:The American Institute of Architects