Architectural billings turned in a third straight month of increases in April, as the AIA’s Architectural Billings Index (ABI) remained in positive territory.
The index dipped slightly from March, to 50.6, but reflects an increase in design services; any score above 50 indicates an increase in billings. The index figure for March was 51.9.
The new-projects index also remained solidly on the plus side, at 56.9, though it was down slightly from 58.1 in March.
As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending.
“Architects continue to report a wide range of business conditions, with unusually high variation in design activity across the major building categories,” said AIA Chief Economist Kermit Baker.
“The strong growth in design contracts—the strongest score for this indicator since last summer—certainly suggests that firms will be reporting growth in billings over the next several months.”
Regional and sector readings
Architectural Billings Index regional averages for April were 52.2 for the South, 51.5 for the Northeast, and 50.8 for both the West and Midwest. Also:
- Sector index: Multi-family residential (53.7), commercial / industrial (52.0), mixed practice (50.0), institutional (49.0)
- Project inquiries index: 56.9
- Design contracts index: 54.3
The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
