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
| Aug 10, 2016
DATA CENTER GIANTS: Information overload is pushing the limits of mission-critical facilities
Streamlined design and delivery approaches for individual business enterprises and co-location facilities are being born out of the necessity to bring new capacity online as quickly as possible.
| Aug 10, 2016
Top 30 Data Center Architecture Firms
Gensler, Corgan, and HDR top Building Design+Construction’s annual ranking of the nation’s largest data center sector architecture and A/E firms, as reported in the 2016 Giants 300 Report.
| Aug 10, 2016
UNIVERSITY GIANTS: Facing money woes, the nation's colleges double down on innovative ideas
Budget constraints are compelling some public institutions to pursue alternative methods of financing their major building projects.
| Aug 9, 2016
Top 100 University Architecture Firms
Gensler, Perkins+Will, and CannonDesign top Building Design+Construction’s annual ranking of the nation’s largest university sector architecture and A/E firms, as reported in the 2016 Giants 300 Report.
Reconstruction & Renovation | Aug 9, 2016
Renascent architecture: Demolished Frank Lloyd Wright structures get new life
The Frank Lloyd Wright Revival Initiative is set to begin its reconstruction efforts with the Banff Pavilion, which was demolished in 1939.
Building Team | Aug 4, 2016
Thought leaders from architecture, engineering and construction to meet at 2016 Bluebeam eXtreme Conference
Bluebeam users inspire technological change through shared insights and training at three-day event.
| Aug 4, 2016
MULTIFAMILY BUILDING GIANTS: Rental complexes focus on affordability, accessibility, and specialty amenities
To address the affordability problem and attract tenants, owners and developers are experimenting with smaller and smaller units, amenity-rich environments, and “co-living” concepts.
| Aug 4, 2016
Top 110 Multifamily Architecture Firms
Perkins Eastman, CallisonRTKL, and Solomon Cordwell Buenz top Building Design+Construction’s annual ranking of the nation’s largest multifamily building sector architecture and A/E firms, as reported in the 2016 Giants 300 Report.
| Aug 3, 2016
GREEN BUILDING GIANTS: Sustainability leaders turn to wellness and technology to get an edge
AEC leaders in green building are stepping up to a higher level of innovation and to be a green leader today, you have to dig deeper into data.
| Aug 2, 2016
Top 130 Green Building Architecture Firms
Gensler, Stantec, and HOK top Building Design+Construction’s annual ranking of the nation’s largest green building sector architecture and A/E firms, as reported in the 2016 Giants 300 Report.