Firms find research, particularly on building materials, to be important to their practice
Architecture firm billings bounced back in February, following a slight decrease in January. Architecture firms reported modest growth for the month, as the ABI score rebounded to 50.7 (any score over 50 indicates billings growth). Inquiries into new projects remained strong, and the largest share of firms in more than two years reported an increase in the value of new design contracts as new work in the pipeline continues to ramp up.
Business conditions at architecture firms improved in three of the four regions of the country in February, but growth was sluggish in the Northeast and South. Firms located in the Midwest reported stronger growth, while firms located in the West reported declining firm billings for the seventh month out of the last eight. In addition, firm billings softened at firms with a residential specialization, as well as those with a commercial/industrial specialization. Firms with an institutional specialization continued to see growth, but at a modestly slower pace than in the last two months. (more…)