August Architecture Billings Index Marks 7th Consecutive Positive Month
Washington, DC, September 22, 2021-The Architecture Billings Index (ABI) score for August was 55.6, up from July’s score of 54.6, according to a new report from The American Institute of Architects (AIA).
Any score above 50 indicates an increase in billings from the prior month. During August, scoring for both the new project inquiries and design contracts moderated slightly but remained in positive territory, posting scores of 64.7 and 56.6 respectively.
“The surge in design activity continued in August, signifying an expected upturn in construction activity in the fourth quarter and continuing into 2022,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “This expected expansion will magnify the already serious problems of price inflation and availability of many construction products and materials, as well as the emerging labor shortages in the industry.”
Regional averages were as follows: West (57.2); Midwest (55.2); South (52.5); Northeast (51.7).
The sector index breakdown was mixed practice (56.0); commercial/industrial (54.7); institutional (54.4); multi-family residential (54.3).
Related Topics:The American Institute of Architects