Architecture firms reported a modest increase in March billings. This positive news was tempered by a slight decrease in new design contracts according to a new report released today from The American Institute of Architects (AIA). March was the first time since last September in which billings improved, according to the March 2023 AIA/Deltek Architecture Billings Index.
The billings score for March increased from 48.0 in February to 50.4 in March (any score above 50 indicates an increase in firm billings). However, firms reported that inquiries into new projects grew at a slower pace, while the value of new design contracts declined from 51.3 in February to 48.9 in March.
“In spite of the positive movement in architecture firm billings in March, core concerns remain., “said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Inflation still needs to ease further for interest rates to return to more normal levels, and the banking turmoil still threatens to hold back residential and commercial construction loans.”
Key ABI highlights for March include:
- Regional averages: Midwest (51.4); Northeast (49.1); South (47.4); West (47.2)
- Sector index breakdown: mixed practice (firms that do not have at least half of their billings in any one other category) (53.9); institutional (48.8); commercial/industrial (49.7); multi-family residential (44.2)
Related Stories
| Jan 28, 2016
AIA CES class: The rainscreen approach to a better building envelope
Building envelope expert Bradley Carmichael of Hoffmann Architects explains how rainscreen wall systems work and evaluates the effectiveness of various rain-control methods, including mass walls, perfect barriers, and masonry veneers. This AIA/CES class is worth 1.0 learning unit.
![2015 was a record year for mergers and acquisitions in the AE industry [infographic]](/sites/default/files/styles/list_big/public/Screen%20Shot%202016-01-28%20at%209.38.08%20AM.png?itok=udg8OToR "2015 was a record year for mergers and acquisitions in the AE industry [infographic]")
Architects | Jan 28, 2016
2015 was a record year for mergers and acquisitions in the AE industry [infographic]
Consulting firm Morrissey Goodale tracked a record 234 sales of U.S.-based A/E firms last year.
Architects | Jan 27, 2016
NCARB to rename the Intern Development Program
This June, the program designed to guide aspiring architects through the early stages of their career will be renamed the Architectural Experience Program (AXP).
Architects | Jan 26, 2016
HOK promotes Bill Hellmuth to chief executive
Hellmuth is set to replace Patrick MacLeamy, who will remain as the firm’s chairman.
Mixed-Use | Jan 25, 2016
SOM unveils renderings of dual-tower Manhattan West development
The five million-sf project includes two office towers, a residential tower, retail space, and a new public square.
Office Buildings | Jan 21, 2016
Nike reveals design, first images of planned 3.2 million-sf expansion to its world headquarters
The expansion looks to combine design elements inspired by human movement, speed, and the strength and energy of competition.
Market Data | Jan 20, 2016
Architecture Billings Index ends year on positive note
While volatility persists, architecture firms reported healthy performance for 2015.
Architects | Jan 18, 2016
EHDD’s Monterey Bay Aquarium wins AIA Twenty-five Year Award
The aquarium set new technical standards for the building type, which still influence today, such as the flow-through seawater-based heat pump system, naturalistic exhibitions, and corrosion protection.
Architects | Jan 15, 2016
Best in Architecture: 18 projects named AIA Institute Honor Award winners
Morphosis' Perot Museum and Studio Gang's WMS Boathouse are among the projects to win AIA's highest honor for architecture.
| Jan 14, 2016
How to succeed with EIFS: exterior insulation and finish systems
This AIA CES Discovery course discusses the six elements of an EIFS wall assembly; common EIFS failures and how to prevent them; and EIFS and sustainability.
