Run of Positive Billings Continues at Architecture FirmsDecember 19th, 2018 | Category: Industry News
Architecture firm billings growth expanded in November by a healthy margin, according to a new report from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for November was 54.7 compared to 50.4 in October. With the strongest billings growth figure since January and continued strength in new project inquiries and design contracts, billings are closing the year on a strong note.
“Despite some concerns about a potential economic downturn, architecture firms continue to report strong billings, inquiries and new design contracts,” says AIA chief economist Kermit Baker. “For the coming year, concerns about the economy among architecture firm leaders tend to be balanced by their concerns about a lack of qualified employee prospects.”
Key ABI highlights for November include:
Regional averages: Northeast (56.8), Midwest (53.1), South (50.5), West (49.0)
Sector index breakdown: commercial/industrial (53.8), mixed practice (53.8), multi-family residential (51.2), institutional (50.8)
Project inquiries index: 63.1
Design contracts index: 54.6