Architectural Billings Increase in October
The Architecture Billings Index (ABI) in October increased 2.3 points to 52.0, according to The American Institute of Architects (AIA) Economics & Market Research Group. Billings decreased in the Northeast and Midwest, while architecture firms in the South and West reported their third and sixth straight month of increases, respectively. Firms specializing in multifamily residential reported growth in billings at 54, while all other specializations reported flat activity.
Nearly 45% of firms anticipated 2019 net revenue to rise by 5% or more, with a net revenue for all respondents at 3.4%. For 2020, firms are projecting billings will grow 1.3%, with 38% of respondents expecting an increase and 37% expecting a flat year.
The ABI is produced from the AIA’s monthly Work-on-the-Boards survey, which measures whether architectural firms’ “billings increased, decreased, or stayed the same for the month ended.” A score lower than 50 indicates a decline in billings from the preceding period. See AIA