Architectural billings decline in November
BUSINESS RECORD STAFF Dec 16, 2020 | 9:21 pm
1 min read time
145 wordsAll Latest News, Real Estate and DevelopmentArchitecture firm billing activity continues to slow, a new report from the American Institute of Architects shows. The pace of decline during November accelerated from October, posting an Architecture Billings Index score of 46.3, down from 47.5 the previous month. (Scores below 50 indicate a decline in firm billings.) The pace of inquiries into new projects slowed but remained positive with a score of 52.0. However, the value of new design contracts dipped back into negative territory with a score 48.6, according to the report. “History shows that we won’t see a straight line of growth after a downturn hits,” AIA Iowa Executive Director Jessica Reinert said in a news release. “The path to recovery may be a long one but the Midwest sector seems to be faring better than other areas in the nation.” The regional average for the Midwest in November was 50.1.