WASHINGTON – March 20, 2019 - Architecture firm billings growth softened in February but remained positive, according to a new report today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for February was 50.3, down from 55.3 in January. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts remained positive.
“Overall business conditions at architecture firms across the country have remained generally healthy,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Firms in the south recorded continued strong design activity, likely reflecting a healthy regional economy and ongoing rebuilding from the catastrophic 2018 hurricane season.”
Key ABI highlights for February include:
- Regional averages: South (58.3), West (51.6), Northeast (51.5), Midwest (51.3)
- Sector index breakdown: mixed practice (57.2), commercial/industrial (53.9), multi-family residential (51.6), institutional (50.9)
- Project inquiries index: 59.8
- Design contracts index: 53.1
Regional and sector categories above are calculated as a three-month moving average, whereas the national index, design contracts, and inquiries are monthly numbers.
Founded in 1857, AIA consistently works to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through more than 200 international, state and local chapters, AIA advocates for public policies that promote economic vitality and public wellbeing.
AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation, and world. Members adhere to a code of ethics and conduct to ensure the highest professional standards.
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