Economy

Architecture Billings Soften in February

March 20, 2019

The February Architecture Billings Index, a leading indicator of construction activity, dipped to 50.3 in February from 55.6 in January. Billings growth softened last month, said the American Institute of Architects, but 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. “Firms in the South recorded continued strong design activity, likely reflecting a healthy regional economy and ongoing rebuilding from the catastrophic 2018 hurricane season.”

ABI Highlights:

Regional averages: South, 58.3; West, 51.6; Northeast, 51.5; and Midwest, 51.3.

The sector index breakdown: mixed practice, 57.2; commercial/industrial, 53.9; multi-family residential, 51.6; and institutional, 50.9.

The project inquiries index was 59.8, and the design contracts index was 53.1.

Below is a graph showing the history of the AIA Billings and Project Inquiries Indexes. You will need to view the graph on our website to use its interactive features; you can do so by clicking here. If you need assistance logging in to or navigating the website, please contact us at info@SteelMarketUpdate.com.