Washington, D.C. -- The American Institute of Architects (AIA) is reporting an increase in architecture firm billings for February from its Architecture Billings Index (ABI), with several key segments showing an encouraging outlook for 2018.
“We remain optimistic about the trends we’re seeing at architecture firms this year with the ABI continuing to show growth in February,” said Kermit Baker, PhD, AIA chief economist. “We saw several major bright spots reflected in February’s data, as billings remained particularly strong at firms located in the West and Midwest.”
While the pace of growth in design activity slowed a bit in February for an ABI score of 52, it still reflects a healthy business environment. In particular, firms with a multifamily residential or an institutional specialization continued to report extremely strong billings.
Regional averages were reported as follows: West (57.6); Midwest (54.5); South (54.4); and Northeast (47.5). The sector index breakdown was recorded as follows: multi-family residential (56.6); institutional (53.8); commercial/industrial (51); and mixed practice (49.7). The project inquiries index was reported at 62.4 and the design contracts index at 54.5.
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