Architecture Billings Index Posts Growth in November
Washington, DC, December 18, 2019-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score of 51.9 for November reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings).
During November, both the new project inquiries and design contracts scores were positive, posting scores of 60.9 and 52.9 respectively.
“The uncertainty surrounding the overall health of the economy is leading developers to proceed with more caution on new projects,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “We are at a point where there is a potential for an upside but also a potential for things to get worse.”
Regional averages were as follows: South, 54.5; West, 51.3; Midwest, 51.1; and Northeast, 47.5.
The Sector index breakdown was commercial/industrial, 52.9; mixed practice, 52.2; multi-family residential, 51.5; and institutional, 50.1.
The project inquiries index score was 60.9, and the design contracts index score was 52.9.