ABI Trends Upward for a Ninth Consecutive Month
Architectural billings remained strong in October, with firms reporting increased demand for design services. The AIA’s latest data show that the Architectural Billings Index eased to 54.3 in October, down from 56.6 in September but still above the bench line of 50 (any score above 50 indicates a growth in billings from the previous month). Architecture firms saw significant expansion in both new project inquiries and design contracts, with scores of 62.9 up from 61.8 and 58.0 from 54.7, respectively.
“Unlike the economy-wide payroll figures, architecture services employment has surpassed its pre-pandemic high,” reports AIA Chief Economist Kermit Baker, noting that “staffing continues to be a growing concern at architecture firms and may serve to limit their ability to take on new projects.”
Compare recent ABI scores with the interactive graph below.
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Originally posted on: https://www.architecturalrecord.com/articles/15425-abi-trends-upward-for-a-ninth-consecutive-month