August Architecture Firm Billings Rebound as Building Investment Spurt Continues
Architecture firm billings rebounded solidly in August, posting their 11th consecutive month of growth, according to a report released by the American Institute of Architects.
AIA’s Architecture Billings Index score for August was 54.2 compared to 50.7 in July (any score over 50 represents billings growth). Most of the growth continues to come from the South and the multifamily residential sector.
“Billings at architecture firms in the South continue to lead the healthy increase in design activity that we’ve seen across the profession in recent months,” said AIA Chief Economist Kermit Baker, Hon. AIA, Ph.D. “Nationally, growth across all building sectors remains solidly positive.”
Key ABI highlights for August include the following:
- Regional averages: West (54.2), Midwest (52.5), South (57.0), Northeast (46.9)
- Sector index breakdown: multifamily residential (55.6), institutional (52.3), commercial/industrial (53.6), mixed practice (51.7).
- Project inquiries index: 58.0.
- Design contracts index: 49.6.
Regional and sector categories above are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.