Authored by Attorney George M. Nicholos, gnicholos@vanblacklaw.com; 757-446-8604 & Attorney John R. Lockard, jlockard@vanblacklaw.com; 757-446-8622.                                   

The Architecture Billings Index showed a slight increase in billings at U.S. architecture firms in February 2017, reversing a slight decrease in January 2017.

The Architecture Billings Index (ABI) is a composite index derived from monthly report surveys from member firms located throughout the country regarding “work-on-the-boards,” and is compiled by the American Institute of Architects Economics & Research Group. Using a first-hand survey index from architectural firms, the ABI serves as a leading economic indicator of nonresidential construction activity and provides a glimpse of nonresidential construction activity approximately 9-12 months into the future or the typical time frame for a project to progress from design development to construction. The ABI serves as a barometer of expected construction activity within that time frame.

The (ABI) stood at 50.7 for the month of February, following a reading of 49.5 in January. The ABI scores are centered near 50, with scores above 50 indicating an aggregate increase in billings and scores below 50 indicating a decline in billings. The ABI scores indicate continued moderate growth. Reporting firms also indicated that inquiries into new projects remained strong and that the largest share of firms in more than two years reported an increase in the value of new design contracts, an indication of new work continuing to increase.

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