AIA reports fifth straight month of billing growth
The American Institute of Architects (AIA) reported its Architecture Billings Index (ABI) for February increased and continues to show signs of growth.
While the pace of growth in design activity slowed a bit in February for an ABI score of 52.0 - any score over 50 indicates billings growth - it still reflects a healthy business environment, the AIA said. In particular, firms with a multifamily residential or an institutional specialization continued to report extremely strong billings.
The latest ABI is the fifth straight month of growth. ABI scores typically indicate a 9- to 12-month lead time between architecture billings and construction spending.
“We remain optimistic about the trends we’re seeing at architecture firms this year with the ABI continuing to show growth in February,” said AIA Chief Economist, Kermit Baker. “We saw several major bright spots reflected in February’s data, as billings remained particularly strong at firms located in the West and Midwest.”
Regionally, the AIA reported an ABI of 57.6 in the West, 54.5 in the Midwest, 54.4 in the South, and 47.5 in the Northeast.
While the pace of growth in design activity slowed a bit in February for an ABI score of 52.0 - any score over 50 indicates billings growth - it still reflects a healthy business environment, the AIA said. In particular, firms with a multifamily residential or an institutional specialization continued to report extremely strong billings.
The latest ABI is the fifth straight month of growth. ABI scores typically indicate a 9- to 12-month lead time between architecture billings and construction spending.
“We remain optimistic about the trends we’re seeing at architecture firms this year with the ABI continuing to show growth in February,” said AIA Chief Economist, Kermit Baker. “We saw several major bright spots reflected in February’s data, as billings remained particularly strong at firms located in the West and Midwest.”
Regionally, the AIA reported an ABI of 57.6 in the West, 54.5 in the Midwest, 54.4 in the South, and 47.5 in the Northeast.