Architecture Billings Down in December
The American Institute of Architects (AIA) reported a decrease in architectural billings’ growth in December but remained positive for the 15th consecutive month. AIA’s Architecture Billings Index (ABI), measuring nonresidential construction activity, scored 50.4 in December compared to 54.7 in November.
New project inquiries and new design contracts values increased, while backlogs reached 6.4 months, the longest average since the AIA started recording quarterly values in 2010. Growth was strongest in the Midwest, followed by the Northeast, with firms in the South and West reporting minimal declines. See American Institute of Architects