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.
“Overall business conditions at architecture firms across the country have remained generally healthy,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “Firms in the south recorded continued strong design activity, likely reflecting a healthy regional economy and ongoing rebuilding from the catastrophic 2018 hurricane season.”
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.
Related Stories
Market Data | Jan 6, 2022
A new survey offers a snapshot of New York’s construction market
Anchin’s poll of 20 AEC clients finds a “growing optimism,” but also multiple pressure points.
Market Data | Jan 3, 2022
Construction spending in November increases from October and year ago
Construction spending in November totaled $1.63 trillion at a seasonally adjusted annual rate.
Market Data | Dec 22, 2021
Two out of three metro areas add construction jobs from November 2020 to November 2021
Construction employment increased in 237 or 66% of 358 metro areas over the last 12 months.
Market Data | Dec 17, 2021
Construction jobs exceed pre-pandemic level in 18 states and D.C.
Firms struggle to find qualified workers to keep up with demand.
Market Data | Dec 15, 2021
Widespread steep increases in materials costs in November outrun prices for construction projects
Construction officials say efforts to address supply chain challenges have been insufficient.
Market Data | Dec 15, 2021
Demand for design services continues to grow
Changing conditions could be on the horizon.
Market Data | Dec 5, 2021
Construction adds 31,000 jobs in November
Gains were in all segments, but the industry will need even more workers as demand accelerates.
Market Data | Dec 5, 2021
Construction spending rebounds in October
Growth in most public and private nonresidential types is offsetting the decline in residential work.
Market Data | Dec 5, 2021
Nonresidential construction spending increases nearly 1% in October
Spending was up on a monthly basis in 13 of the 16 nonresidential subcategories.
Market Data | Nov 30, 2021
Two-thirds of metro areas add construction jobs from October 2020 to October 2021
The pandemic and supply chain woes may limit gains.
