Slight Rebound for Architecture Billings in April
Washington D.C. -- Following a sizable decrease in demand for design services in March, the April Architecture Billings Index (ABI) climbed back into positive territory according to The American Institute of Architects (AIA). AIA’s ABI score for April showed a small increase in design services at 50.5 in April, which is up from 47.8 in March. Any score above 50 indicates an increase in billings. Additionally, business conditions remained strong at firms located in the South. Despite this and the positive overall billings score, most regional and sector indictors continue to display decreasing demand for design services.
“In contrast to 2018, conditions throughout the construction sector recently have become more unsettled,” said Kermit Baker, AIA chief economist. “Though we may not be at a critical inflection point, the next several months of billing data will be indicative of the health of the industry going into 2020.”
Regional averages were reported as: South (51.6); Midwest (49.3); West (49.0); Northeast (45.1). Sector index broke down as: mixed practice (53.2); institutional (49.2); multi-family residential (47.4); commercial/industrial (46.6). The project inquiries index was 60.9, while the design contracts index was 52.1.
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