Architectural Billings Slowed in December But Remained Positive
Washington, DC, January 24, 2019-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for December was 50.4 compared to 54.7 in November.
Despite the positive billings, a softening in growth was seen across several regions and sectors, as well as in project inquiries and design contracts.
“Given the concerns over the ongoing tariff situation, it is not surprising to see a bit of a slowdown in progress on current projects,” said AIA chief economist Kermit Baker, PhD, Hon. AIA. “Growing anxiety over unstable business conditions and the partial shutdown of the government may lead to further softening in the coming months.”
Regional averages were as follows Midwest, 56.3; Northeast, 51.6; South, 49.4; and West, 49.2.
The sector index breakdown was institutional, 53.1; commercial/industrial, 51.2; mixed practice, 50.2; and multi-family residential, 49.8.
The project inquiries index was 55.6, and the design contracts index was 52.1.
Related Topics:The American Institute of Architects