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The American Institute of Architects (AIA) reported the Architectural Billings Index (ABI) for March was 51.9, which is up from 50.3 in February.
ABI reflects consecutive months of increasing demand for design activity at architecture firms; the approximate nine-to 12-month lead time between architecture billings and construction spending. March’s score of 51.9 shows an increase in design services because any score over 50 indicates a rise in billings.
“The first quarter was somewhat disappointing in terms of the growth of design activity, but fortunately expanded a bit entering the traditionally busy spring season,” said AIA’s chief economist, Kermit Baker. “The Midwest is lagging behind the other regions, but otherwise business conditions are generally healthy across the country. As the institutional market has cooled somewhat after a surge in design activity a year ago, the multi-family sector is reaccelerating at a healthy pace.”
The South had the highest regional average of 52.4, while the Midwest had the lowest with 49.8. The sector breakdown is as follows:
- Multi-family—55.7;
- Commercial/industrial—51.8;
- Mixed practice—50; and
- Institutional—48.
To learn more about the ABI, click here.
