Architectural billings decline in November
BY BUSINESS RECORD STAFF Wednesday, December 16, 2020 3:21 PM Architecture firm billing activity continues to slow, a new report from the American Institute of Architects shows. The pace of decline during November accelerated from October, posting an Architecture Billings Index score of 46.3, down from 47.5 the previous month. (Scores below 50 indicate a decline in firm billings.) The pace of inquiries into new projects slowed but remained positive with a score of 52.0. However, the value of new design contracts dipped back into negative territory with a score 48.6, according to the report. “History shows that we won’t see a straight line of growth after a downturn hits,” AIA Iowa Executive Director Jessica Reinert said in a news release. “The path to recovery may be a long one but the Midwest sector seems to be faring better than other areas in the nation.” The regional average for the Midwest in No
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment.
Architecture firm billing activity is contracting once again after two months of a slowing decline, according to a new report from the American Institute of Architects (AIA).
The pace of decline during November accelerated from October, posting an Architecture Billings Index (ABI) score of 46.3 from 47.5 (any score below 50 indicates a decline in firm billings). The pace of inquiries into new projects slowed, but remained positive with a score of 52.0, however the value of new design contracts dipped back into negative territory with a score 48.6.
“In previous design cycles, we typically haven’t seen a straight line back to growth after a downturn hits,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “The path to recovery is shaping up to be bumpier than we hoped for. While there are pockets of optimism in design services demand, the overall construction landscape rem
Architecture Billings Index in November contracts once again archinect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archinect.com Daily Mail and Mail on Sunday newspapers.