Economy
Architecture Billings Improve in October
Written by Sandy Williams
November 22, 2019
Billings increased for architectural design services in October after two months of decline, reported the American Institute of Architects. The Architecture Billings Index rose to 52.0 from 49.7 in September. New project inquiries and design contract scores were somewhat lower but both positive at scores of 57.9 and 52.9, respectively.
“Although ongoing uncertainty over the direction of economic growth persists, a strong stock market and growing payrolls at U.S. businesses continue to generate more construction projects,” said AIA Chief Economist Kermit Baker.“ With most regional and sector billing scores at architecture firms improving from the previous month, we’re seeing a bit of a rebound from disappointing levels of design activity in recent months.”
Key ABI highlights for October include:
- Regional averages: South (55.5); West (51.3); Midwest (49.9); Northeast (47.2)
- Sector index breakdown: mixed practice (55.2); multi-family residential (54.0); institutional (49.9); commercial/industrial (49.3)
- Project inquiries index: 57.9
- Design contracts index: 52.9
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers. A score over 50 indicates growth.
Below is a graph showing the history of the American Institute of Architects Billings and Inquiries Indices. 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.
Sandy Williams
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