Architecture Billings Rose to 53.3 in August
Washington, DC, September 21, 2022-The Architecture Billings Index (ABI) score for August rose to 53.3 compared to 51.0 in July (any score above 50 indicates an increase in billings), according to The American Institute of Architects (AIA).
During August, the score for new project inquiries rose to 57.9 from 56.1 the previous month, while the design contracts score softened slightly with a score of 52.3, down from 52.9 in July.
“While a strengthening billings score is encouraging, the flat scoring across regions and sectors is indicative of a nationwide deceleration over the next several months, said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “A variety of economic storm clouds continue to gather, but since design activity continues to increase, we can expect at least another 9–12-month runway before building construction activity is negatively affected.”
Regional averages were as follows: South (52.9); Midwest (51.4); West (50.2); Northeast (49.8).
The sector index breakdown was multi-family residential (52.0); institutional (52.0); commercial/industrial (51.2); mixed practice (51.2).
Related Topics:The American Institute of Architects