Architectural Billings Started 2019 Strong with 4.3 Point Rise
Washington, DC, February 21, 2019-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for January was 55.3 compared to 51.0 in December. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts, also strengthened in January.
“The government shutdown affected architecture firms but doesn’t appear to have created a slowdown in the profession,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “While AIA did hear from a few firms that were experiencing significant cash flow issues due to the shutdown, the data suggests that the majority of firms had no long-term impact.”
Regional averages were as follows: South, 54.7; Midwest, 54.4; Northeast, 52.4; and West, 51.5.
The sector index breakdown was mixed practice, 53.8; institutional, 52.9; commercial/industrial, 52.6; and multi-family residential, 52.6.
The project inquiries index was 59.6, and the design contracts index was 53.8.
Related Topics:The American Institute of Architects