Architecture Billing Index Posted Healthy Expansion in November
Washington, DC, December 20, 2018-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for November was 54.7 compared to 50.4 in October.
With the strongest billings growth figure since January and continued strength in new project inquiries and design contracts, billings are closing the year on a strong note.
“Despite some concerns about a potential economic downturn, architecture firms continue to report strong billings, inquiries, and new design contracts,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “For the coming year, concerns about the economy among architecture firm leaders tend to be balanced by their concerns about a lack of qualified employee prospects.”
Regional averages were as follows: northeast, 56.8; Midwest, 53.1; south, 50.5; and west, 49.0.
The sector index breakdown was commercial/industrial, 53.8; mixed practice, 53.8; multi-family residential, 51.2; and institutional, 50.8.
The project inquiries index was 63.1, and the design contracts index was 54.6.
Related Topics:The American Institute of Architects