Billings Index Nudges Upward In February

March 23, 2022

Billings Index Nudges Upward In February

The Architecture Billings Index score for February was 51.3, up slightly from the January register of 51.0. Since any score above 50 indicates growth, demand for architectural services was considered positive. The January score had carried over from December 2021.

“Despite the continued healthy demand for design services, activity is plateauing as firms face a myriad of external challenges, from staffing to supply chain disruptions to high inflation and rising interest rates,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.

In February the Project Inquiries index was 62.5, up from 61.9. The Design Contracts was 55.2, down from 56.1.

Regional averages for February were as follows:

Jan Feb
West 47.6 47.9
South 61.2 58.6
Midwest 51.5 53.2
Northeast 46.8 44.3

The sector index breakdown was as follows:

Jan Feb
commercial/industrial 54.2 55.4
mixed practice 59.3 53.8
multi-family residential 50.1 52.6
institutional 47.3 47.2

Describing market conditions, Baker continued, “While the rebound from the pandemic has positively impacted firms in most regions, the prolonged lack of demand for design services in the Northeast is of growing concern.”

For more information about the Architectural Billings Index, visit the AIA website.