March ABI Shows Sluggish Billings Increase

American Institute of Architects
April 23, 2018

According to the latest Architectural Billings Index, produced by the American Institute of Architects, architecture firm billings increased for the sixth consecutive month in March, with a score of 51. The pace of growth slowed modestly from February, however. Responding firms also indicated their backlogs rose to 6.3 months, with three quarters of firms reporting that they currently have backlogs of three months or longer, indicating future work, according to the AIA.

Consumers reported in March that they remain generally confident about the state of the economy, according to University of Michigan’s Index of Consumer Sentiment. However, the March reading was modestly lower than the preliminary projections, primarily due to increased concern about the proposed tariffs on imported steel and aluminum, AIA officials report.