Contract - Architectural Billings Slip in November

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Architectural Billings Slip in November

18 December, 2013

-By Holly O'Dell


Architects experienced a drop in November billings after a six-month run of increasing requests for design services. The Architecture Billings Index (ABI) from the American Institute of Architects (AIA) reported a November reading of 49.8, dipping from an October score of 51.6. Any score above 50 indicates an increase in billings. New project inquires also slipped to 57.8 from a mark of 61.5 the previous month.

“Architecture firms continue to report widely varying views of business conditions across the country.  This slight dip is likely just a minor, and hopefully temporary, lull in the progress of current design projects,” AIA chief economist Kermit Baker, Hon. AIA, said in a statement. “But there is a continued uneasiness in the marketplace as businesses attempt to determine the future direction of demand for commercial, industrial, and institutional buildings.”

The commercial/industrial and institutional sectors hung below the 50 mark at 48.6 and 47.7, respectively, compared with multi-family residential (55.2) and mixed practice (53.1). Broken down by region, November billings scores came in at 52.0 for the South, 51.6 in the Midwest, 50.2 in the west, and a low of 47.5 in the Northeast.


Architectural Billings Slip in November

18 December, 2013


Architects experienced a drop in November billings after a six-month run of increasing requests for design services. The Architecture Billings Index (ABI) from the American Institute of Architects (AIA) reported a November reading of 49.8, dipping from an October score of 51.6. Any score above 50 indicates an increase in billings. New project inquires also slipped to 57.8 from a mark of 61.5 the previous month.

“Architecture firms continue to report widely varying views of business conditions across the country.  This slight dip is likely just a minor, and hopefully temporary, lull in the progress of current design projects,” AIA chief economist Kermit Baker, Hon. AIA, said in a statement. “But there is a continued uneasiness in the marketplace as businesses attempt to determine the future direction of demand for commercial, industrial, and institutional buildings.”

The commercial/industrial and institutional sectors hung below the 50 mark at 48.6 and 47.7, respectively, compared with multi-family residential (55.2) and mixed practice (53.1). Broken down by region, November billings scores came in at 52.0 for the South, 51.6 in the Midwest, 50.2 in the west, and a low of 47.5 in the Northeast.
 


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