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
Codes | Feb 9, 2024
Illinois releases stretch energy code for building construction
Illinois is the latest jurisdiction to release a stretch energy code that provides standards for communities to mandate more efficient building construction. St. Louis, Mo., and a few states, including California, Colorado, and Massachusetts, currently have stretch codes in place.
Giants 400 | Feb 8, 2024
Top 10 Telecommunications Building Architecture Firms for 2023
Arcadis North America, CSArch, Interior Architects, and TETER top BD+C's ranking of the nation's largest telecommunications building architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Feb 8, 2024
Top 50 Public Library Architecture Firms for 2023
Quinn Evans, McMillan Pazdan Smith, PGAL, Skidmore, Owings & Merrill, and Gensler top BD+C's ranking of the nation's largest public library architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Feb 8, 2024
Top 60 Performing Arts Center and Concert Venue Architecture Firms for 2023
Populous, DLR Group, Gensler, HGA, and Perkins Eastman top BD+C's ranking of the nation's largest performing arts center and concert venue architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Giants 400 | Feb 8, 2024
Top 70 Museum Architecture Firms for 2023
SmithGroup, Gensler, Ayers Saint Gross, Quinn Evans, HGA, and Cooper Robertson head BD+C's ranking of the nation's largest museum and gallery architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.
Architects | Feb 8, 2024
LPA President Dan Heinfeld announced retirement
LPA Design Studios announced the upcoming retirement of longtime president Dan Heinfeld, who led the firm’s growth from a small, commercial development-focused architecture studio into a nation-leading integrated design practice setting new standards for performance and design excellence.
Market Data | Feb 7, 2024
New download: BD+C's February 2024 Market Intelligence Report
Building Design+Construction's monthly Market Intelligence Report offers a snapshot of the health of the U.S. building construction industry, including the commercial, multifamily, institutional, and industrial building sectors. This report tracks the latest metrics related to construction spending, demand for design services, contractor backlogs, and material price trends.
Giants 400 | Feb 6, 2024
Top 80 Religious Facility Architecture Firms for 2023
Parkhill, FGM Architects, GFF, Gensler, and HOK top BD+C's ranking of the nation's largest religious facility architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report.
Modular Building | Feb 6, 2024
Modular fire station allows for possible future reconfigurations
A fire station in Southern California leveraged prefab, modular construction for faster completion and future reconfiguration.
Giants 400 | Feb 5, 2024
Top 30 Entertainment Center, Cineplex, and Theme Park Architecture Firms for 2023
Gensler, JLL, Nelson Worldwide, AO, and Stantec top BD+C's ranking of the nation's largest entertainment center, cineplex, and theme park architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report.