Architecture Billings Slow, but Close 2018 with Growing Demand
Washington D.C. -- Architecture firm billings growth softened in December but remained positive for the fifteenth consecutive month, according to a report released from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for December was 50.4 compared to 54.7 in November. Despite the positive billings, a softening in growth was seen across several regions and sectors, as well as in project inquiries and design contracts.
“Given the concerns over the ongoing tariff situation, it is not surprising to see a bit of a slowdown in progress on current projects,” said Kermit Baker, Ph.D, AIA chief economist. “Growing anxiety over unstable business conditions and the partial shutdown of the government may lead to further softening in the coming months.”
Regional averages were recorded as: Midwest (56.3); Northeast (51.6); South (49.4); and West (49.2). Sector index breakdown were recorded as: institutional (53.1); commercial/industrial (51.2); mixed practice (50.2); and multi-family residential (49.8). Project inquiries index was (55.6) and Design contracts index was (52.1).
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