Architecture Billings End 25-Month Streak
April 17, 2019
ABI Negative in March
The Architecture Billings Index score for February was 47.8, down 2.5 points from the February score of 50.3. This marked the end of a two year run of positive billings.
“Though billings haven’t contracted in a while, it is important to note that it does follow on the heels of a particularly tough late winter period for much of the country,” said American Institute of Architects Chief Economist Kermit Baker, Hon. AIA, PhD.
Despite the overall score, the project inquiry and design contracts indexes remained positive in March at 59.9 and 50.8 respectively.
Baker added, “firms in the south recorded continued strong design activity, likely reflecting a healthy regional economy and ongoing rebuilding from the catastrophic 2018 hurricane season.”