Architectural Billings Return to Positive Territory in February

The Architecture Billings Index rose eight points in February to 53.3, returning to positive territory for the first time in a year, said the American Institute of Architects. New inquiries improved last month, climbing above 50 for the first time in almost two years, along with a return to growth in value of new contracts for the first time since February 2020.

“Hopefully, this is the start of a more sustained recovery, however, it is possible that scores continue to bounce above and below 50 for the next few months, as recoveries often move in fits and starts,” said AIA Chief Economist Kermit Baker. “Beyond the encouraging billing data, architecture employment added 700 new positions in January and has now regained 45% of the jobs that were lost since the beginning of the pandemic.”