Architecture firm billings grew in May, marking the eighth consecutive month of growth, according to a report from the American Institute of Architects (AIA).
Overall, the AIA Architecture Billings Index (ABI) score for May was 52.8 (any score over 50 is billings growth), which shows that demand for services from architecture firms continues to be healthy. The ABI also indicated that business conditions remain strong at firms located in the South and West, while growth in billings was modest at firms in the Northeast and Midwest.
“Architecture firms continue to have work as they enter the busiest part of the design and construction season,” says AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “This is especially true for firms serving the institutional building sector, which reported the strongest growth in billings in several years.”
Key ABI highlights for May:
- Regional averages: West (51.9), Midwest (50.2), South (55), Northeast (50.6)
- Sector index breakdown: multi-family residential (52.1), institutional (54.3), commercial/industrial (53.6), mixed practice (47.9)
- Project inquiries index: 59.3
- Design contracts index: 53.3
The regional and sector categories above are calculated as a three-month moving average, whereas the national index, design contracts, and inquiries are monthly numbers.
More information on AIA’s ABI is available online.