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Post Info TOPIC: Architects Experience Rise in New Contracts


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Date: Jan 27 14:37:17 2010
Architects Experience Rise in New Contracts




US architects reported a rise in the number of new design contracts in October after more than a year of struggling. Not since August 2008, says the American Institute of Architects, has the industry seen this level of business. New architectural contracts are generally used as an indicator of future new construction starts because there is typically a 9 to 12 month gap between the architect being hired and construction to begin.

The AIA report showed that new work for architects climbed sharply in September, though is still well below highs set in the middle part of the decade. Many believe that the industry is close to a bottom and should begin growing in the next quarter, and that a substantial spurt in construction is only months away.

Some architects are still skeptical. One in Southern California says that he and his colleagues in that area have not seen evidence of a rise in billings, noting that the majority of the new contracts are for institutions like schools and government buildings. The next largest increase in billings was for apartment buildings, followed by commercial layouts like shopping malls.

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