U.S. Architecture Firms’ Billing Index Falls in March

Billings at U.S. architecture firms fell in March, according to the American Institute of Architects.

Billings at architecture firms, tracked by the Work-on-the-Boards survey, fell to 48.8 in March from 50.7 a month earlier. The inquiry index, which tracks a firm’s capacity to take on additional work, rose to 57.9. A score above 50 indicates an increase in billings, while a reading below 50 indicates a negative outlook.

Commercial building construction typically follows the billings index by about six months. Following is a table compiled from the AIA Architecture Billings Index:

===========================================================================
                    March   Feb.   Jan.   Dec.   Nov.   Oct.  Sept.   Aug.
                     2014   2014   2014   2013   2013   2013   2013   2013
===========================================================================
Billings Index       48.8   50.7   50.4   48.6   49.8   51.6   53.8   53.6
  Monthly change     -1.9    0.3    1.8   -1.1   -1.8   -2.2    0.2    0.4
Inquiry Index        57.9   56.8   58.5   59.0   58.6   61.6   59.9   62.7
  Monthly change      1.1   -1.7   -0.5    0.4   -3.0    1.7   -2.9   -2.6
===========================================================================
                    March   Feb.   Jan.   Dec.   Nov.   Oct.  Sept.   Aug.
                     2014   2014   2014   2013   2013   2013   2013   2013
===========================================================================
Design Contracts     48.2   51.0   49.8   51.1   51.6   53.4   53.4   52.8
  Monthly change     -2.8    1.2   -1.2   -0.6   -1.8    0.0    0.6   -0.2
--------------------------------------------------------------------------
Northeast            46.8   46.4   46.0   44.7   45.9   48.7   50.0   52.5
Midwest              46.6   47.3   46.6   47.2   48.5   50.4   51.9   52.2
South                52.8   53.2   52.9   52.7   52.7   53.1   53.8   52.9
West                 50.7   50.1   51.5   52.1   51.5   55.2   55.4   57.5
--------------------------------------------------------------------------
Residential          52.1   52.1   52.2   53.0   53.9   55.9   54.9   54.5
Industrial           49.6   50.6   51.0   49.7   49.4   51.5   54.8   55.0
Institutional        49.0   48.8   48.0   46.4   46.9   48.7   49.8   50.1
Mixed                47.6   47.7   47.4   49.9   51.7   53.0   54.0   57.3
===========================================================================
NOTE: Regional and sector data is a 3-month rolling average; data is 
seasonally adjusted.

SOURCE: American Institute of Architects

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