DES MOINES (February 21, 2019) Starting the year on a strong note, architecture firm billings growth strengthened in January to a level not seen in the previous twelve months according to a new report released today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for January was 55.3 compared to 51.0* in December. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts, also strengthened in January.
“There were concerns about the effects of the government shutdown on the architecture industry at the beginning of the year and we are happy to report there wasn’t any significant delays in the industry,” said AIA Iowa Executive Director Jessica Reinert. “The Midwest billings has still remained strong and work seems to continue to flow despite any suspicions of delayed funding.”
Key ABI highlights for January include:
Regional averages: South (54.7), Midwest (54.4), Northeast (52.4), West (51.5)
Sector index breakdown: mixed practice (53.8), institutional (52.9), commercial/industrial (52.6), multi-family residential (52.6)
Project inquiries index: 59.6
Design contracts index: 53.8
Regional and sector categories above are calculated as a three-month moving average, whereas the national index, design contracts, and inquiries are monthly numbers.
*Every January the AIA research department updates the seasonal factors used to calculate the ABI, resulting in a revision of recent ABI values.