AIA Billings Index Moderates In October But Remains Positive
Washington, DC –
Architecture firms reported increasing demand for design services in October, according to a new report from The American Institute of Architects (AIA). The ABI score for October was 54.3.
While the October score is down slightly from September’s score of 56.6, it still indicates very strong business conditions overall (any score above 50 indicates an increase in billings from the prior month). During October, scoring for both the
new project inquiries and design contracts expanded, posting scores of 62.9 and 58.0 respectively.
“Unlike the economy-wide payroll figures, architecture services employment has surpassed its pre-pandemic high,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Staffing continues to be a growing concern at architecture firms
and may serve to limit their ability to take on new projects.”
Key ABI highlights for
• Regional averages: Midwest (61.9); South (58.2); West (53.4); Northeast (48.6)
• Sector index breakdown: mixed practice (58.7); commercial/industrial (57.4); multi-family residential (55.8); institutional (51.4)
The regional and
sector categories are calculated as a three-month moving average, whereas the
national index, design contracts and inquiries are monthly numbers.
Visit AIA’s website for more ABI information.
About The American Institute Of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. Members adhere to a code of ethics and professional conduct to ensure the highest standards in professional practice. Embracing their responsibility to serve society, AIA members engage civic and government leaders and the public in helping find needed solutions to pressing issues facing our communities, institutions, nation and world. For more information, visit www.aia.org.