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
| Jun 7, 2013
Must see: Building façade made of massive concrete drain pipes
Looking to create a unique atmosphere using natural materials for the Prahran Hotel pub near Melbourne, local architect Techné Architects cleverly incorporated a series of concrete sewer pipes into the building's main façade.
| Jun 7, 2013
40 Under 40 retrospective: Where are they now?
Every month we’ll be catching up with past 40 Under 40 honorees to see what they’ve been up to since winning the award. This month we focus on a construction manager and a healthcare designer.
| Jun 7, 2013
First look: University of Utah's ‘teaching hospital for law’
The University of Utah broke ground on its cutting-edge College of Law building, which will facilitate new approaches to legal education based on more hands-on learning and skills training.
| Jun 7, 2013
First look: Austin breaks ground on 'light-filled' Central Library
The design scheme by Lake|Flato and Shepley Bulfinch incorporates reading "porches" and a light-filled, six-story atrium.
| Jun 5, 2013
Survey of AE firms shows profits, hiring on the rise
A recent survey of more than 40 Boston-area architecture and engineering companies by consulting firm DiCicco, Gulman & Company confirms continued growth in business volume.
| Jun 5, 2013
USGBC: Free LEED certification for projects in new markets
In an effort to accelerate sustainable development around the world, the U.S. Green Building Council is offering free LEED certification to the first projects to certify in the 112 countries where LEED has yet to take root.
| Jun 4, 2013
SOM research project examines viability of timber-framed skyscraper
In a report released today, Skidmore, Owings & Merrill discussed the results of the Timber Tower Research Project: an examination of whether a viable 400-ft, 42-story building could be created with timber framing. The structural type could reduce the carbon footprint of tall buildings by up to 75%.
| Jun 4, 2013
Notification reinvented: SimplexGrinnell introduces revolutionary family of intelligent notification appliances
Simplex TrueAlert ES uses addressable technology to improve protection, simplify installation and reduce operating costs.
| Jun 3, 2013
6 residential projects named 'best in housing design' by AIA
The Via Verde mixed-use development in Bronx, N.Y., and a student housing complex in Seattle are among the winners of AIA's 2013 Housing Awards.
| Jun 3, 2013
Trifecta of awards recognize Vision/Rubenstein campus, Bayer Healthcare HQ
When Vision Equities, LLC and Rubenstein Partners purchased the 200-acre former Alcatel-Lucent campus in Whippany a little more than two years ago, the partnership recognized the property’s potential to serve as a benchmark infill revitalization for the State of New Jersey.
