Architectural billing index decline for August
The American Institute of Architects‘ latest Architectural Billings Index for August recorded a slight decline to a score of 48.1 (any score above 50 indicates an increase),
This represents the eleventh consecutive month of flat numbers for the companies after a period of growth between 2021 and 2021. Mid-2022.
The value of new design contracts also fell for the first time since April.
The multifamily market maintained its relatively weak performance,
with the institutional sector also recording a decline.
However, companies specializing in commercial/industrial projects recorded increases for the third month in a row.
“Business conditions at architecture firms remain sluggish,” Kermit Baker, chief economist at AIA, said in a statement.
“New project work coming to architecture firms as well as ongoing project activities are still stalled in a relatively narrow range,
They show little variation from month to month.
Although this pause has relieved pressure on tight employment conditions throughout the profession,
However, there is a great deal of uncertainty about the direction of future activity.
ABI Highlights for August:
- Regional averages: Northeast (50.6); South (49.9); Midwest (48.1); West (45.8)
- Sector index distribution: commercial/industrial (51.5); institutional (49.4); Mixed practice (firms that do not have at least half of their billings in any other category) (46.9); Multi-family housing (44.1)
- Project Inquiry Index: 54.
- Design Contracts Index: 47.9
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