AIA Architectural Billings Index
February 2024
Architectural Billings Index (ABI): 49.5
New Design Contract Index (DCI): 51.1
Commercial/Industrial ABI: 46.1
Institutional ABI: 50.7
Multi-Family Residential ABI: 44.9
Mixed Practice ABI: 47.1
South Region ABI: 47.7
West Region ABI: 47.2
Midwest Region ABI: 50.8
Northeast Region ABI: 44.0
New Project Inquiry Index (NPII): 56.0
Quick Analysis:
Index value > 50 represents that architects have reported more activity for that particular metric than the prior month. These metrics are leading indicators as the ABI reflects projects in design that will enter the construction phase in 9 to 12 months and the NPII reflects new project demand from owners to potentially enter the design phase.
The February AIA data reflects the seventh consecutive month of monthly declines in architectural activity - the longest period of monthly declines since 2010. That said, there remains an underlying demand for new project design services which is reflected in the New Project Inquiry Index reading of 56.0. Overall, this data could very likely mean decreased construction starts and spending levels as we progress further into 2024.
http://new.aia.org/press-releases