Architectural Billings Improved but Below 50 in September
Washington, DC, October 24, 2019-The Architecture Billings Index (ABI) score in September is 49.7, which improved from the August score of 47.2, according to the American Institute of Architects (AIA). However, any score below 50 indicates a decrease in billings.
During September, both the new project inquiries and design contracts scores were positive, posting scores of 59.0 and 54.4 respectively.
“Though still in negative territory, the moderating billings score along with the rebound in design contracts and inquiries serve as a continued note of caution for the industry,” said AIA chief economist Kermit Baker, PhD, Hon. AIA. “Continued weakness in the larger economy still doesn’t bode well for future design services, which will likely see continued volatility in the months ahead.”
Regional averages were as follows: South, 52.3; West, 51.3; Northeast, 46.3; and Midwest, 45.3.
The sector index breakdown was multi-family residential, 53.2; mixed practice, 53.0; institutional, 48.5; and commercial/industrial, 45.3.
The project inquiries index was 59.0, and the design contracts index was 54.4.
Related Topics:The American Institute of Architects