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
| Sep 22, 2014
Swanke-designed Eurasia Tower opens in Moscow
The 72-story tower—the first mixed-use, steel tower in Russia—is located within the new, 30 million-sf, 148-acre Moscow International Business Center.
| Sep 22, 2014
USGBC names 2014 Best of Buildings Award winners
The Best of Building Awards celebrate the year’s best products, projects, organizations and individuals making an impact in green building.
| Sep 20, 2014
Healthcare conversion projects: 5 hard-earned lessons from our experts
Repurposing existing retail and office space is becoming an increasingly popular strategy for hospital systems to expand their reach from the mother ship. Our experts show how to avoid the common mistakes that can sabotage outpatient adaptive-reuse projects.
| Sep 19, 2014
Smithsonian Institution opens LEED Platinum lab facility
The Charles McC. Mathias Laboratory will emit 37% less CO2 than a comparable lab that does not meet LEED-certification standards.
| Sep 19, 2014
8 hot healthcare projects win interior design awards
Winners of IIDA's 2014 Healthcare Interior Design Competition include Perkins+Will, AECOM, Buffalo Design, and SmithGroupJJR, for projects from Cincinnati to Toronto.
| Sep 18, 2014
Final designs unveiled for DC's first elevated park
OMA, Höweler + Yoon, NEXT Architects, and Cooper, Robertson & Partners have just released their preliminary design proposals for what will be known as the 11th Street Bridge Park.
| Sep 17, 2014
Arquitectonica's hairpin-shaped tower breaks ground in Miami
Rising above Biscayne Bay, the 305-meter tower will include three viewing decks, a restaurant, nightclub, and exhibition space.
| Sep 17, 2014
Atlanta Braves break ground on mixed-use ballpark development
SunTrust Park will be constructed by American Builders 2017, a joint venture between Brasfield & Gorrie, Mortenson Construction, Barton Malow Company, and New South Construction.
| Sep 17, 2014
The doctor is in: New consortium to fund research of design's influence on public health
The AIA Design & Health Research Consortium has organized its design and health initiative around six evidence-based approaches.
| Sep 17, 2014
New developments in data center design
From the dozen or so facilities housing Google’s 900,000 servers to the sprawling server farms of Facebook to Amazon’s seven sites scattered around the world, today’s data centers must accommodate massive power demand, high heat loads, strict maintenance protocols, and super-tight security. This AIA Discovery course is worth 1.0 AIA CES HSW learning units.
