Subscribe Now
Architecture Billings Index Backslides in March
Following consistently increasing demand for design services for over two years, the Architecture Billings Index dipped into negative territory in March, according to a new report from The American Institute of Architects.
The ABI score for March was 47.8, down from 50.3 in February. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts remained positive.
“Though billings haven’t contracted in a while, it is important to note that it does follow on the heels of a particularly tough late winter period for much of the country,” said AIA Chief Economist Kermit Baker, Ph.D., Hon. AIA. “Many indicators of future work at firms still remain positive, although the pace of growth of design contracts has slowed in recent months.”
Key ABI highlights for March include:
- Regional averages: South (54.2), Midwest (48.7), West (47.2), Northeast (43.5)
- Sector index breakdown: mixed practice (53.1), commercial/industrial (47.0), institutional (48.9), multi-family residential (47.7)
- Project inquiries index: 59.8
- Design contracts index: 50.8
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Posted April 23, 2019
More Articles:
- Live Webinar: ASHRAE Standard 62.1 and Recent Changes That Impact the TAB Community
Aug 17, 2022 – Aug 17, 2022 - NAWIC 2022 Annual Conference
Aug 17, 2022 – Aug 20, 2022 - 2022 IES Annual Conference
Aug 18, 2022 – Aug 20, 2022 - Scaffold & Accessory Industry Association 2022 Annual Convention
Aug 21, 2022 – Aug 25, 2022 - NOAH Research Forum
Sep 8, 2022 – Sep 8, 2022