Architectural Billings Index Gains in May

American Institute of Architects
June 21, 2018

U.S. architectural firms reported a bump in billings for May, according to the Architectural Billings Index, compiled by the American Institute of Architects. Marking the fourth month of growth, May’s reading of 53.0 is up from April’s 50.9, and also clears the monthly average of 51.4 for the first four months of 2018.

By construction segment, commercial/industrial firms enjoyed an small increase in billings, though the distribution of billings was geographically uneven in May. Western firms showed positive growth, while Midwestern companies showed no change and billings for Northeastern firms declined.

The report also analyzed the emerging concern over materials costs. About 70 percent of firms reported modest to significant cost increases affecting projects, 20 percent reported mixed cost trends and less than 1 percent reported no notable change.