Architecture firms reported a modest increase in March billings. This positive news was tempered by a slight decrease in new design contracts according to a new report released today from The American Institute of Architects (AIA). March was the first time since last September in which billings improved, according to the March 2023 AIA/Deltek Architecture Billings Index.
The billings score for March increased from 48.0 in February to 50.4 in March (any score above 50 indicates an increase in firm billings). However, firms reported that inquiries into new projects grew at a slower pace, while the value of new design contracts declined from 51.3 in February to 48.9 in March.
“In spite of the positive movement in architecture firm billings in March, core concerns remain., “said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Inflation still needs to ease further for interest rates to return to more normal levels, and the banking turmoil still threatens to hold back residential and commercial construction loans.”
Key ABI highlights for March include:
- Regional averages: Midwest (51.4); Northeast (49.1); South (47.4); West (47.2)
- Sector index breakdown: mixed practice (firms that do not have at least half of their billings in any one other category) (53.9); institutional (48.8); commercial/industrial (49.7); multi-family residential (44.2)
Related Stories
Architects | Mar 16, 2022
Diébédo Francis Kéré named 2022 Pritzker Architecture Prize recipient
Diébédo Francis Kéré, architect, educator and social activist, has been selected as the 2022 Laureate of the Pritzker Architecture Prize, announced Tom Pritzker, Chairman of The Hyatt Foundation, which sponsors the award that is regarded internationally as architecture’s highest honor.
Architects | Mar 10, 2022
Gyo Obata, FAIA, HOK Founding Partner, passes away at 99
Obata's career spanned six decades and included iconic projects like the National Air and Space Museum in Washington, D.C., and Community of Christ Temple in Independence, Mo.
AEC Tech Innovation | Mar 9, 2022
Meet Emerge: WSP USA's new AEC tech incubator
Pooja Jain, WSP’s VP-Strategic Innovation, discusses the pilot programs her firm’s new incubator, Emerge, has initiated with four tech startup companies. Jain speaks with BD+C's John Caulfield about the four AEC tech firms to join Cohort 1 of the firm’s incubator.
Architects | Mar 2, 2022
FGM Architects and LeMay Erickson Willcox Architects join forces
FGM Architects announced that LeMay Erickson Wilcox Architects, a 19-person architectural studio based in Reston, VA is joining their firm.
Architects | Mar 1, 2022
Alyson Steele Elected President and CEO of Quinn Evans
(2.25.22) Alyson Steele, FAIA, LEED AP, has been elected president and chief executive officer of Quinn Evans, a nationally recognized firm providing architecture, planning, interior design, landscape architecture, and historic preservation services. Steele has been with the firm since 1997 and previously served as executive vice president and chief design officer. She succeeds Larry Barr, FAIA, who will continue to serve on the board of directors.
Architects | Feb 28, 2022
JLL continues expansion in Southwest with acquisition of San Diego’s Gilliland Construction Management
JLL announced that it has completed the acquisition of Gilliland Construction Management, a leader in project and construction management services for life sciences, lab, retail, hospitality, industrial, multifamily, and office properties.
Codes and Standards | Feb 24, 2022
Most owners adapting digital workflows on projects
Owners are more deeply engaged with digital workflows than other project team members, according to a new report released by Trimble and Dodge Data & Analytics.
Multifamily Housing | Feb 24, 2022
First new, mixed-use high-rise in Detroit’s central business district in nearly 30 years opens
City Club Apartments completed two multifamily projects in 2021 in downtown Detroit including the first new, mixed-use high-rise in Detroit’s central business district in nearly 30 years.
| Feb 24, 2022
Signs of ‘Antiwork’ appear in the architecture industry
Reddit's r/Antiwork forum highlights the mounting pressures everyday workers face in a purely capitalistic society. AEC industry professionals are not immune to these pressures.
Office Buildings | Feb 23, 2022
The Beam on Farmer, Arizona’s first mass timber, multi-story office building tops out
The Beam on Farmer, Arizona’s first mass timber, multi-story office building, topped out on Feb. 10, 2022.
