Strong Start to 2019 for Architecture Billings
Washington D.C. — Starting the year on a strong note, architecture firm billings growth strengthened in January to a level not seen in the previous twelve months according to a new report released from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for January was 55.3 compared to 51.0 in December. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts, also strengthened in January.
“The government shutdown affected architecture firms but doesn’t appear to have created a slowdown in the profession,” said Kermit Baker, Ph.D, AIA chief economist. “While AIA did hear from a few firms that were experiencing significant cash flow issues due to the shutdown, the data suggests that the majority of firms had no long-term impact.”
Regional ABI averages were reported as: South (54.7), Midwest (54.4), Northeast (52.4), West (51.5). Sector index breakdown were reported as: mixed practice (53.8), institutional (52.9), commercial/industrial (52.6), multi-family residential (52.6). The project inquiries index and design contracts index were 59.6 and 53.8 respectively.
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