Pace of demand for design services rapidly accelerates

{"version":"0.3.0","atoms":[],"cards":[],"markups":[["strong"],["a",["href","https:\/\/www.aia.org\/resources\/10046-architecture-billings-index-abi"]],["b"]],"sections":[[1,"p",[[0,[0],1,"WASHINGTON \u2013 April 20,\n2022 \u2013"],[0,[],0," Demand for design services in March expanded sharply\nfrom February according to a new report today from The American Institute of\nArchitects (AIA). "]]],[1,"p",[[0,[],0,"AIA\u2019s Architecture\nBillings Index (ABI) score for March was 58.0, up from a score of 51.3 in\nFebruary. Any score above 50 indicates an increase in billings. During March, scoring\nfor both new project inquiries and design contracts expanded, posting scores of\n63.9 and 60.5, respectively. "]]],[1,"p",[[0,[],0,"\u201cThe spike in firm billings\nin March may reflect a desire to beat the continued interest rate hikes expected\nin the coming months,\u201d said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. \u201cHowever,\nsince project backlogs at architecture firms have reached seven months, a new\nall-time high, it appears that firms are having a difficult time keeping up\nwith this uptick in demand for design services.\u201d"]]],[1,"p",[[0,[0],1,"Key ABI highlights for\nMarch include:"]]],[3,"ul",[[[0,[],0,"\nRegional averages: South (57.2); Midwest (56.2);\nWest (54.0); Northeast (46.3)"]],[[0,[],0,"Sector index breakdown: mixed practice (58.2);\nmulti-family residential (57.2); commercial\/industrial (55.3); institutional (50.5)"]]]],[1,"p",[[0,[],0,"The regional and\nsector categories are calculated as a three-month moving average, whereas the\nnational index, design contracts and inquiries are monthly numbers."]]],[1,"p",[[0,[],0,"Visit "],[0,[1],1,"AIA\u2019s website"],[0,[],0," for more ABI information."]]],[1,"p",[[0,[2],1,"About AIA"]]],[1,"p",[[0,[],0,"Founded\nin 1857, AIA consistently works to create more valuable, healthy, secure, and\nsustainable buildings, neighborhoods, and communities. Through more than 200\ninternational, state and local chapters, AIA advocates for public policies that\npromote economic vitality and public wellbeing."]]],[1,"p",[[0,[],0,"AIA provides members with tools and resources to assist them\nin their careers and business as well as engaging civic and government leaders\nand the public to find solutions to pressing issues facing our communities,\ninstitutions, nation, and world. Members adhere to a code of ethics and conduct\nto ensure the highest professional standards."]]]]}