Architectural Billings Down in February but Still Positive
Washington, DC, March 21, 2019-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for February was 50.3, down from 55.3 in January. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts remained positive.
“Overall business conditions at architecture firms across the country have remained generally healthy,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “Firms in the south recorded continued strong design activity, likely reflecting a healthy regional economy and ongoing rebuilding from the catastrophic 2018 hurricane season.”
Regional averages were as follows South, 58.3; West, 51.6; Northeast, 51.5; and Midwest, 51.3.
The sector index breakdown was mixed practice, 57.2; commercial/industrial, 53.9; multi-family residential, 51.6; and institutional, 50.9.
The project inquiries index was 59.8, and the design contracts index was 53.1.
Related Topics:The American Institute of Architects