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6% |
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Financials
Architect billings slows for
commercial, institutional
The Architectural Billings Index from the American Institute of Architects, Washington, D.C., hit 50.7 in January, the lowest score in more than 18 months, according to a Feb. 22 article from AIArchitect. A score above 50 indicates a growth in design activity.
The ABI comes from the AIA’s monthly work-on-the-boards survey and provides a glimpse of construction activities six months in the future.
Commercial or industrial architectural firms showed the sharpest decline in billings, while the ABI remained fairly steady for institutional firms. Firms that deal in mixed project types also slipped several points in January.
Despite the housing and mortgage crisis, residential firms reported a rebound in billings. The January ABI reached 55, up from a low of about 46 in October.
Geographically, firms in the Midwest and South reported a slowdown in billings. Firms in the Northeast and West, on the other hand, reported an upswing in January. The ABI in the Northeast edged up during the month, and the index rebounded in the West.
The work-on-the-boards survey also showed a rapid increased acceptance of building information modeling. Thirty-one percent of respondents reported using BIM currently on a project in January, compared to 20 percent last year. Further, 44 percent of respondents last year said they had no plans to acquire BIM, compared to 35 percent this year.
Read the full AIArchitect article here.
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