Architectural Billings Rise in February
The Architecture Billings Index (ABI) in February rose 1.2 points to 53.4 over January, the highest level over the past six months, according to The American Institute of Architects (AIA) Economics & Market Research Group. Design contracts decreased 4.0 points to 52.0, still indicating modest but slower growth. February billings decreased again in the Northeast, but the region scored its strongest reading in over a year, while architecture firms in the South and Midwest posted gains. Firms in all specializations saw increases in February, with multifamily residential firms posting the greatest gains.
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