Economy
February 26, 2021
Architectural Billings Index Declines for 11th Month
Written by Sandy Williams
Billings continued to decline at architecture firms in January, marking the 11th consecutive month of deterioration, reported the American Institute of Architects (AIA). The January Architecture Billings Index remained in contraction at 44.9, but firms are encouraged by an increase in work inquiries. The new projects inquiries index rose from 52.4 in December to 56.8 in January. Value of design contracts also improved after two months of decline.
On a region-by-region basis, demand for project design remained below the 50 neutral mark in all four regions, with the Northeast at just 41.9 in January. Design demand in the South moved slightly higher with a score of 47.4 in January, up from 46.8 in December. The Midwest posted at 42.2 and the West 42.8.
