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Billings Moderate in February Following Robust New Year

Wednesday, March 20, 2019   (0 Comments)

Billings Moderate in February Following  Robust New Year

 

Des Moines, Iowa (March 20, 2019) –Architecture firm billings growth softened in February but remained positive, according to a new report today from The American Institute of Architects (AIA).

AIA’s Architecture Billings Index (ABI) score for February was 50.3, down from 55.3 in January. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts remained positive. 

"The Architecture Billings Index in the Midwest has taken a slight dip but overall business conditions at architecture firms have remained generally healthy,” said AIA Iowa Executive Director, Jessica Reinert. 

Key ABI highlights for February include:

Regional averages: South (58.3), West (51.6), Northeast (51.5), Midwest (51.3)

Sector index breakdown: mixed practice (57.2), commercial/industrial (53.9), multi-family residential (51.6), institutional (50.9)

Project inquiries index: 59.8

Design contracts index: 53.1

Regional and sector categories above are calculated as a three-month moving average, whereas the national index, design contracts, and inquiries are monthly numbers


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