Hurricanes and Wildfires Slow Design Business in October
Washington, D.C. -- Architecture firm billings growth softened in October but remained positive for the thirteenth consecutive month, according to a new report released from The American Institute of Architects (AIA). AIA’s Architecture Billings Index (ABI) score for October was 50.4 compared to 51.1 in September. With continued strength in new project inquiries, billings are expected to remain steady into the coming months.
“The aftermath of this year’s hurricanes and wildfires are the likely cause of the billings contraction we’re seeing in the South and West regions,” said Kermit Baker, PhD, AIA chief economist. “These natural disasters have clouded the health of design and construction activity, making it difficult to separate a temporary setback from a general slowdown in design activity.”
Regional averages were: Midwest 57.8; Northeast 51.8; South 48.4; and West 46.9. Sector index breakdown was as follows: mixed practice 52.7; multi-family residential 52.3; institutional 52.0; and commercial/industrial 48.9. Project inquiries index was 58.6, and design contracts index was 52.8.
For more information, visit www.aia.org.