Architecture Billings Index Continues to Show Modest Growth
Demand for design services in November increased at a modest pace for the second month in a row, according to a report from The American Institute of Architects.
AIA’s Architecture Billings Index score of 51.9 for November reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). During November, both the new project inquiries and design contracts scores were positive, posting scores of 60.9 and 52.9 respectively.
“The uncertainty surrounding the overall health of the economy is leading developers to proceed with more caution on new projects,” said AIA Chief Economist Kermit Baker, Hon. AIA, Ph.D. “We are at a point where there is a potential for an upside but also a potential for things to get worse.”
Key ABI highlights for November include the following:
Regional averages: South (54.5); West (51.3); Midwest (51.1); Northeast (47.5).
Sector index breakdown: commercial/industrial (52.9) mixed practice (52.2); multifamily residential (51.5); institutional (50.1).
Project inquiries index: 60.9.
Design contracts index: 52.9.