Demand for design services at architecture firms across the U.S. has increased for the eighteenth consecutive month in July, according to new data from the American Institute of Architects (AIA). The Architecture Billings Index (ABI) reported a score of 51.0 last month.
While this reading is slightly below June’s score of 53.2, it still indicates stable business conditions for architecture firms, as any score above 50 suggests an increase in billings from the prior month. In addition, both the new project inquiries and design contracts indexes moderated from June but remained strong with scores of 56.1 and 52.9, respectively.
Regional averages: South (53.6); Midwest (52.2); West (51.7); Northeast (48.4)
Sector index breakdown: multi-family residential (52.8); commercial/industrial (52.2); mixed practice (52.1); institutional (49.6)
“Despite architecture services employment recently surpassing pre-pandemic levels, the ABI score this month reflects the slowest growth since January, and marks the fourth straight month with a lower score than the previous month, indicating a slowing trajectory in billings activity,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “With a variety of economic storm clouds continuing to gather, we are likely looking at a period of slower growth going forward.”
Archinect Jobs, the industry-leading architecture job board, has seen a sharp uptick in hiring activity in recent months. Take a look at the extensive list of opportunities or post your firm's openings now. To browse thousands of job seeker profiles and find the right candidates quickly, try Archinect's Talent Finder service.
No Comments
Block this user
Are you sure you want to block this user and hide all related comments throughout the site?
Archinect
This is your first comment on Archinect. Your comment will be visible once approved.