The American Institute of Architects (AIA) is reporting an increase in architecture firm billings for February from its Architecture Billings Index (ABI), with several key segments showing an encouraging outlook for 2018.
“We remain optimistic about the trends we’re seeing at architecture firms this year with the ABI continuing to show growth in February,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “We saw several major bright spots reflected in February’s data, as billings remained particularly strong at firms located in the West and Midwest.”
While the pace of growth in design activity slowed a bit in February for an ABI score of 52.0 (any score over 50 indicates billings growth), it still reflects a healthy business environment. In particular, firms with a multifamily residential or an institutional specialization continued to report extremely strong billings.
Key February ABI highlights:
- Regional averages: West (57.6), Midwest (54.5), South (54.4), Northeast (47.5)
- Sector index breakdown: multi-family residential (56.6), institutional (53.8), commercial/industrial (51.0), mixed practice (49.7)
- Project inquiries index: 62.4
- Design contracts index: 54.5
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
Market Data | Sep 29, 2020
6 must reads for the AEC industry today: September 29, 2020
Renovation to Providence's downtown library is completed and Amazon to build 1,500 new last-mile warehouses.
Market Data | Sep 25, 2020
5 must reads for the AEC industry today: September 25, 2020
AIA releases latest 2030 Commitment results and news delivery robots could generate trillions for U.S. economy.
Market Data | Sep 24, 2020
6 must reads for the AEC industry today: September 24, 2020
SOM's new waterfront neighborhood and a portable restroom designed for mobility.
Market Data | Sep 23, 2020
Architectural billings in August still show little sign of improvement
The pace of decline during August remained at about the same level as in July and June.
Market Data | Sep 23, 2020
7 must reads for the AEC industry today: September 23, 2020
The new Theodore Presidential Library and the AIA/HUD's Secretary's Awards honor affordable, accessible housing.
Market Data | Sep 22, 2020
6 must reads for the AEC industry today: September 22, 2020
Construction employment declined in 39 states and no ease of lumber prices in sight.
Market Data | Sep 21, 2020
Washington is the US state with the most value of construction projects underway, says GlobalData
Of the top 10 largest projects in the Washington state, nine were in the execution stage as of August 2020.
Market Data | Sep 21, 2020
Construction employment declined in 39 states between August 2019 and 2020
31 states and DC added jobs between July and August.
Market Data | Sep 21, 2020
6 must reads for the AEC industry today: September 21, 2020
Four projects receive 202 AIA/ALA Library Building Award and Port San Antonio's new Innovation Center.
Market Data | Sep 18, 2020
Follow up survey of U.S. code officials demonstrates importance of continued investment in virtual capabilities
Existing needs highlight why supporting building and fire prevention departments at the federal, state, and local levels is critical.