ABI Score Dipped to 51.0 in November but Remained Positive
Washington, DC, December 16, 2021-The Architecture Billings Index (ABI) score for November was 51.0, down from 54.3 the previous month, according to The American Institute of Architects (AIA).
While this score is down slightly from October’s score, it still indicates positive business conditions overall (any score above 50 indicates billings growth). During November, scoring for both the new project inquiries and design contracts moderated slightly, but remained in positive territory, posting scores of 59.4 and 55.8, respectively.
“The period of elevated billing scores nationally, and across the major regions and construction sectors seems to be winding down for this cycle,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “Ongoing external challenges like labor shortages, supply chain disruptions, spiking inflation, and prospects for rising interest rates will likely continue to slow the growth in firm billings in the coming months.”
Regional averages were Midwest (57.6); South (53.7); West (50.9); Northeast (45.5).
The sector index breakdown was mixed practice (56.9); multi-family residential (51.4); commercial/industrial (50.5); and institutional (50.1).
Related Topics:The American Institute of Architects