Nick Bjork//April 5, 2011//
Architecture billings have increased slightly over the first two months of 2011, but aren’t improving at the rate they were in the final quarter of 2010.
According to the American Institute of Architects, the Architecture Billings Index – an indicator of industry activity – was at 50.6 in February, up slightly from 50 for January. A score of 50 or higher indicates an increase in billings from the previous month.
Although the ABI is down significantly from the end of 2010, when scores were in the 60s, the data from February marks the fourth consecutive month that the ABI has been 50 or higher.
The Midwest region improved the most in February, with a score of 55.3, and the South followed at 50.1. The West (49.1) saw a slight decrease in billings, and the Northeast (46.4) experienced a significant dip.
As for specific sectors, commercial/industrial (55) and mixed practice (51.3) recorded gains in billings, while multifamily residential (49.7) and institutional (48.9) recorded slight decreases.
Additionally, the project inquiries index recorded a 56.4 across the country in February – consistent with January data that showed inquiries into architectural work rose significantly.