Demand for design services in November increased at a modest pace for the second month in a row, according to a new report today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score of 51.9 for November reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). During November, both the new project inquiries and design contracts scores were positive, posting scores of 60.9 and 52.9 respectively.
“The uncertainty surrounding the overall health of the economy is leading developers to proceed with more caution on new projects,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “We are at a point where there is a potential for an upside but also a potential for things to get worse.”
Key ABI highlights for November include:
-Regional averages: South (54.5); West (51.3); Midwest (51.1); Northeast (47.5)
-Sector index breakdown: commercial/industrial (52.9) mixed practice (52.2); multi-family residential (51.5); institutional (50.1)
-Project inquiries index: 60.9
-Design contracts index: 52.9
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Founded in 1857, AIA consistently works to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through more than 200 international, state and local chapters, AIA advocates for public policies that promote economic vitality and public wellbeing.
AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation, and world. Members adhere to a code of ethics and conduct to ensure the highest professional standards.