Billings Positive After Year of Decline

March 24, 2021

Billings Positive After Year of Decline

The Architecture Billings Index score for February was 50.3, gaining 5.4 points from the January reading.

“Hopefully, this is the start of a more sustained recovery. It is possible that scores will continue to bounce above and below 50 for the next few months, as recoveries often move in fits and starts,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.

In February the project inquiries index was 61.2, up from 56.8 the previous month. The design contracts index was 51.6, up from 48.8.

Regional averages all made gains in February.

January February
West 42.8 49.5
South 47.4 52.4
Midwest 42.2 49.3
Northeast 41.9 46.9

Baker added, “Beyond the encouraging billing data, architecture employment added 700 new positions in January and has now regained 45 percent of the jobs that were lost since the beginning of the pandemic.”