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
| Feb 24, 2011
New reports chart path to net-zero-energy commercial buildings
Two new reports from the Zero Energy Commercial Buildings Consortium (CBC) on achieving net-zero-energy use in commercial buildings say that high levels of energy efficiency are the first, largest, and most important step on the way to net-zero.
| Feb 24, 2011
Lending revives stalled projects
An influx of fresh capital into U.S. commercial real estate is bringing some long-stalled development projects back to life and launching new construction of apartments, office buildings and shopping centers, according to a Wall Street Journal article.
| Feb 23, 2011
London 2012: What Olympic Park looks like today
London 2012 released a series of aerial images that show progress at Olympic Park, including a completed roof on the stadium (where seats are already installed), tile work at the aquatic centre, and structural work complete on more than a quarter of residential projects at Olympic Village.
| Feb 23, 2011
Call for Entries: 2011 Building Team Awards, Deadline: March 25, 2011
The 14th Annual Building Team Awards recognizes newly built projects that exhibit architectural and construction excellence—and best exemplify the collaboration of the Building Team, including the owner, architect, engineer, and contractor.
| Feb 23, 2011
The library is dead, long live the library
The Society for College and University Planning asked its members to voice their thoughts on the possible death of academic libraries. And many did. The good news? It's not all bad news. A summary of their members' comments appears on the SCUP blog.
| Feb 23, 2011
Data center trends: green design, technology upgrades
While green data centers will continue to be a trend within the industry, technology is also driving infrastructure upgrades that have never been seen before, according to the 2011 Data Center Technical Market Report from Environmental Systems Design. The report also includes an overview of the national data center market, construction costs, blackouts and disaster prevention, and site selection.
| Feb 23, 2011
“School of Tomorrow” student design competition winners selected
The American Institute of Architecture Students (AIAS) and Kawneer Company, Inc. announced the winners of the “Schools of Tomorrow” student design competition. The Kawneer-sponsored competition, now in its fifth year, challenged students to learn about building materials, specifically architectural aluminum building products and systems in the design of a modern and creative school for students ranging from kindergarten to sixth grade. Ball State University’s Susan Butts was awarded first place and $2,500 for “Propel Elementary School.”
| Feb 23, 2011
Barbie's newest career: Architect
Mattel is introducing Architect Barbie this fall, following a campaign that started in 2002 to give the iconic blond a design job. The doll comes in a signature pink outfit, but if she's truly hoping to pass an an architect, shouldn't she be wearing all black?
| Feb 23, 2011
Green building on the chopping block in House spending measure
Bryan Howard, Legislative Director of the U.S. Green Building Council, blogs about proposed GOP budget cuts that could impact green building in the commercial sector.
| Feb 23, 2011
Architecture Billings hold steady after two months of improving conditions
After showing positive momentum during the fourth quarter of 2010, the Architecture Billings Index (ABI) slipped almost four points in January. The January ABI score was 50.0, which is down from a reading of 53.9 the previous month, but still reflects stable demand for design services. Any score above 50 indicates an increase in billings.
