ABI: Architecture firm billings return to positive territory

Architecture firm billings returned to the positive side in February for the first time in a year, with the AIA’s Architecture Billings Index (ABI) score climbing by more than eight points from January to a score of 53.3. Hopefully, this is the start of a more sustained recovery, however, it is possible that scores continue to bounce above and below 50 for the next few months, as recoveries often move in fits and starts. Indicators of future work also returned to the positive side this month, with inquiries climbing above 60 for the first time in nearly two years, and the value of new design contracts returning to growth for the first time since February 2020. All of these indicators are encouraging signs that business is beginning to return to many firms that had been struggling, and should continue to improve as the pace of vaccinations accelerates and the impact of the latest government stimulus continues to spread.

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