Architectural Billings Softened but Remained Positive in Sept.
Washington, DC, November 15, 2018-AIA’s Architecture Billings Index (ABI) score for October was 50.4 compared to 51.1 in September, according to a new report from The American Institute of Architects (AIA).
With continued strength in new project inquiries, billings are expected to remain steady into the coming months.
"The effects of the 2018 hurricane season are the probable cause of the temporary contraction in billings in the Southern region,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “This decrease in demand for design services is limited, and the region should rebound over the next several months."
Regional averages were as follows: Midwest, 57.8; Northeast, 51.8; South, 48.4; and West, 46.9.
The sector index breakdown was: mixed practice, 52.7; multi-family residential, 52.3; institutional, 52.0; and commercial/industrial, 48.9.
The project inquiries index score was 58.6, and the design contracts index score was 52.8.
Related Topics:The American Institute of Architects