Architecture firm billings growth softened in December but remained positive for the fifteenth consecutive month, according to a new report released today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for December was 50.4 compared to 54.7 in November. Despite the positive billings, a softening in growth was seen across several regions and sectors, as well as in project inquiries and design contracts.
“Given the concerns over the ongoing tariff situation, it is not surprising to see a bit of a slowdown in progress on current projects,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “Growing anxiety over unstable business conditions and the partial shutdown of the government may lead to further softening in the coming months.”
Key ABI highlights for December include:
- Regional averages: Midwest (56.3), Northeast (51.6), South (49.4), West (49.2)
- Sector index breakdown: institutional (53.1), commercial/industrial (51.2), mixed practice (50.2), multi-family residential (49.8)
- Project inquiries index: 55.6
- Design contracts index: 52.1
Regional and sector categories above are calculated as a three-month moving average, whereas the national index, design contracts, and inquiries are monthly numbers.
More information on AIA’s ABI is available online.
Related Stories
Market Data | Oct 22, 2020
Multifamily’s long-term outlook rebounds to pre-covid levels in Q3
Slump was a short one for multifamily market as 3rd quarter proposal activity soars.
Market Data | Oct 21, 2020
Architectural billings slowdown moderated in September
AIA’s ABI score for September was 47.0 compared to 40.0 in August.
Market Data | Oct 21, 2020
Only eight states top February peak construction employment despite gains in 32 states last month
California and Vermont post worst losses since February as Virginia and South Dakota add the most.
Market Data | Oct 20, 2020
AIA releases updated contracts for multi-family residential and prototype residential projects
New resources provide insights into mitigating and managing risk on complex residential design and construction projects.
Market Data | Oct 20, 2020
Construction officials call on Trump and Biden to establish a nationwide vaccine distribution plan to avoid confusion and delays
Officials say nationwide plan should set clear distribution priorities.
Market Data | Oct 19, 2020
5 must reads for the AEC industry today: October 19, 2020
Lower cost metros outperform pricey gateway markets and E-commerce fuels industrial's unstoppable engine.
Market Data | Oct 19, 2020
Lower-cost metros continue to outperform pricey gateway markets, Yardi Matrix reports
But year-over-year multifamily trendline remained negative at -0.3%, unchanged from July.
Market Data | Oct 16, 2020
5 must reads for the AEC industry today: October 16, 2020
Princeton's new museum and Miami's yacht-inspired luxury condos.
Market Data | Oct 15, 2020
6 must reads for the AEC industry today: October 15, 2020
Chicago's Bank of America Tower opens and altering facilities for a post-COVID-19 world.
Market Data | Oct 14, 2020
6 must reads for the AEC industry today: October 14, 2020
Thailand's new Elephant Museum and the Art Gallery of New South Wales receives an expansion.