Billings to architect firms fell in March
BPC Staff Apr 18, 2019 | 3:26 pm
1 min read time
151 wordsAll Latest News, Real Estate and DevelopmentFollowing consistently increasing demand for design services for over two years, the Architecture Billings Index dipped into negative territory in March, according to the American Institute of Architects. The index measured 47.8 last month, down from 50.3 in February. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts, remained positive. “March billings in the Midwest dropped noticeably from February at a rate of 51.3 to March, which stands at 48.7 points,” AIA Iowa Executive Director Jessica Reinert said in a release. “This drop is a result of the intensely difficult winter we experienced in Iowa and across the Midwest. Iowa architects remain optimistic that indicators of upcoming work across the state will remain steady.” Architects in the South reported an increase in billings, with a score of 54.2, while in the West the index was 47.2 and in the Northeast, 43.5.