(01-20-20) One third of architecture firms increased spending on marketing in 2019. The year 2019 ended with architecture firms reporting modest growth in their firm billings. The ABI score rose to 52.5, as business conditions continued to rebound from a period of softness throughout much of the spring and summer. Inquiries into new work remained strong as well, and the value of new design contracts also showed solid growth for the fourth consecutive month. Although the period of declining and flat billings earlier in the year was one of the most protracted since the end of the Great Recession, firms remain cautiously optimistic about business in the coming months. In addition, backlogs at architecture firms remained strong in December, with firms reporting an average backlog of 6.3 months. Backlogs have extended beyond six months since the spring of 2018. Business conditions also continued to improve at firms in all regions of the country in December, with the exception of firms located in the Northeast, where billings softened further. Billings declined or were flat every month of 2019 at firms in the Northeast, while firms in the other regions generally saw billings strengthen in the latter part of the year. Business conditions were also generally strong at firms of all specializations, particularly at firms with a commercial/industrial specialization.
Architecture Billings Index (01-20-20)
- Architecture Billings Index, Economic Monthly Summaries
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