Architecture Billings Increased to 52.0 in October
Washington, DC, November 21, 2019-The Architecture Billings Index (ABI) score in October is 52.0, up from the September score of 49.7, according to the American Institute of Architects (AIA).
This score reflects an increase in design services (any score above 50 indicates an increase in billings). During October, both the new project inquiries and design contracts scores moderated from September but remained positive, posting scores of 57.9 and 52.9, respectively.
“Although ongoing uncertainty over the direction of economic growth persists, a strong stock market and growing payrolls at U.S. businesses continue to generate more construction projects,” said AIA chief economist Kermit Baker, PhD, Hon. AIA. “With most regional and sector billing scores at architecture firms improving from the previous month, we’re seeing a bit of a rebound from disappointing levels of design activity in recent months.”
Regional averages were as follows: South, 55.5; West, 51.3; Midwest, 49.9; and Northeast, 47.2.
The Sector index breakdown was mixed practice, 55.2; multi-family residential, 54.0; institutional, 49.9; and commercial/industrial, 49.3.
The project inquiries index was 57.9, and the design contracts index was 52.9.
Related Topics:The American Institute of Architects