New data from the American Institute of Architects (AIA) September Architecture Billings Index (ABI) indicates an increase in the demand for design services for the 20th consecutive month as the industry continues its positive growth into the year's final quarter.
For September, the ABI was at 51.7, down from August's total of 53.3, and up slightly from the 51.0 figure that was posted in July (a score above 50 indicates stable business conditions). Also, in September, the demand for both new project inquiries and design contracts adjusted slightly from August but also remained strong with scores of 53.6 and 50.7, respectively.
“While billings in the Northeast region and the Institutional sector reached their highest pace of growth in several years, there appears to be emerging weakness in the previously healthy multifamily residential and commercial/industrial sectors, both of which saw a decline in billings for the first time since the post-pandemic recovery began,” the AIA's Chief Economist, Kermit Baker, said in a statement. “Across the broader architecture sector, backlogs at firms remained at a robust 7.0 months as of the end of September, still near record-high levels since we began collecting this data regularly more than a decade ago.”
Archinect Jobs, the industry-leading architecture job board, has seen robust hiring activity throughout the year. 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.