Architecture Billings Sees Year End on Positive Note
Washington, D.C. -- The Architecture Billings Index (ABI) concluded 2017 in positive terrain, with the December reading capping off three straight months of growth in design billings. The American Institute of Architects (AIA) reported the December ABI score was 52.9, down from a score of 55.0 in the previous month. This score still reflects an increase in design services provided by U.S. architecture firms. The new projects inquiry index was 61.9, up from a reading of 61.1 the previous month, while the new design contracts index decreased slightly from 53.2 to 52.7.
“Overall, 2017 turned out to be a strong year for architecture firms,” said Kermit Baker, Ph.D., AIA chief economist. “All but two months saw ABI scores in positive territory. Additionally, the overall strength of the fourth quarter lays a good foundation for healthy growth in construction activity in 2018.”
By region, the South scored 56.3, West 53.0, Midwest 52.9, and Northeast 49.4. By sector, multi-family residential was at a 55.4, commercial/industrial 54.8, institutional 51.2, and mixed practice 50.4. The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
For more information, visit www.aia.org.