Architectural Billings Moderate in February
Washington D.C. -- Architecture firm billings growth softened in February but remained positive, according to The American Institute of Architects (AIA). AIA’s Architecture Billings Index (ABI) score for February was 50.3, down from 55.3 in January. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts remained positive.
“Overall business conditions at architecture firms across the country have remained generally healthy,” said Kermit Baker, PhD., AIA chief economist. “Firms in the south recorded continued strong design activity, likely reflecting a healthy regional economy and ongoing rebuilding from the catastrophic 2018 hurricane season.”
Regional averages were: South (58.3), West (51.6), Northeast (51.5), Midwest (51.3). The sector index were: mixed practice (57.2), commercial/industrial (53.9), multi-family residential (51.6), institutional (50.9). Project inquiries index was 59.8, and design contracts index was 53.1.
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