U.S. Architecture Billings Enjoy Continued Growth Into 2020
According to the American Institute of Architects, 2020 started the year on a strong note as architecture firm billings strengthened slightly in January.
AIA's Architecture Billings Index (ABI) score of 52.2 for January compared to 52.1 in December 2019 reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). Indicators of work in the pipeline, including new project inquiries and new design contracts remained positive, posting scores of 57.9 and 56.0 respectively.
"Despite the continued presence of volatility in the economy, design activity has begun to accelerate in recent months," said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. "Even with the ongoing challenges facing the nonresidential construction sector, this upturn points to at least modest growth over the coming year."
Key ABI highlights for January include:
Regional averages: South (56.7); West (52.1); Midwest (51.3); Northeast (45.3)
Sector index breakdown: mixed practice (51.6); commercial/industrial (51.5); multi-family residential (51.2); institutional (51.1)
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