Architecture Billings Declined Slightly in April but Remained Positive
Washington, DC, May 18, 2022-The American Institute of Architects’ (AIA) Architecture Billings Index score for April was 56.5 compared to 58.0 in March.
Any score above 50 indicates an increase in billings. During April, scores for both new project inquiries and design contracts moderated slightly, but remained strong, posting scores of 62.3 and 55.4, respectively.
“While business conditions at architecture firms have been very encouraging over the past year, project activity has been steadily shifting toward work on existing buildings,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “Billings for reconstruction projects exceeded those for new construction for the first time in the last two decades. While the reconstruction share of building activity will continue to ebb and flow, in general, we’ll continue to move toward an increased share of building activity for reconstruction and a decreased share for new construction.”
Regional averages were as follows: West (58.2); Midwest (57.6); South (57.3); Northeast (53.1)
The sector index breakdown was mixed practice (61.2); commercial/industrial (60.7); multi-family residential (57.2); institutional (51.8).
Related Topics:The American Institute of Architects