Architecture Billings Held Steady at 51 in January
Washington, DC, February 23, 2022-The Architecture Billings Index (ABI) score for January was 51.0 compared to 51.0 in December, according to a new report from The American Institute of Architects (AIA).
Inquiries into new work and the value of new design contracts both remained strong with scores of 61.9 and 56.1, respectively.
“Architecture billings, while remaining at very healthy levels in recent months, have slowed considerably from the middle of last year,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “This no doubt reflects delays in the construction sector caused by supply challenges for both labor and materials, as well as ongoing staffing constraints at architecture firms.”
Regional averages were as follows: South (61.2); Midwest (51.5); West (47.6); and Northeast (46.8).
The sector index breakdown was mixed practice (59.3); commercial/industrial (54.2); multi-family residential (50.1); institutional (47.3).
The project inquiries index was 61.9, and the design contracts index was 56.1.
Related Topics:The American Institute of Architects