Starting the year on a strong note, architecture firm billings growth strengthened in January to a level not seen in the previous 12 months, according to a new report released today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for January was 55.3, compared to 51.0 in December. Indicators of work in the pipeline, including inquiries into new projects and the value of new design contracts, also strengthened in January.
“The government shutdown affected architecture firms, but doesn’t appear to have created a slowdown in the profession,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “While AIA did hear from a few firms that were experiencing significant cash flow issues due to the shutdown, the data suggests that the majority of firms had no long-term impact.”
Key ABI highlights for January include:
Regional averages: South (54.7), Midwest (54.4), Northeast (52.4), West (51.5)
Sector index breakdown: mixed practice (53.8), institutional (52.9), commercial/industrial (52.6), multi-family residential (52.6)
Project inquiries index: 59.6
Design contracts index: 53.8
Related Stories
Market Data | Jan 7, 2022
Construction adds 22,000 jobs in December
Jobless rate falls to 5% as ongoing nonresidential recovery offsets rare dip in residential total.
Market Data | Jan 6, 2022
Inflation tempers optimism about construction in North America
Rider Levett Bucknall’s latest report cites labor shortages and supply chain snags among causes for cost increases.
Market Data | Jan 6, 2022
A new survey offers a snapshot of New York’s construction market
Anchin’s poll of 20 AEC clients finds a “growing optimism,” but also multiple pressure points.
Market Data | Jan 3, 2022
Construction spending in November increases from October and year ago
Construction spending in November totaled $1.63 trillion at a seasonally adjusted annual rate.
Market Data | Dec 22, 2021
Two out of three metro areas add construction jobs from November 2020 to November 2021
Construction employment increased in 237 or 66% of 358 metro areas over the last 12 months.
Market Data | Dec 17, 2021
Construction jobs exceed pre-pandemic level in 18 states and D.C.
Firms struggle to find qualified workers to keep up with demand.
Market Data | Dec 15, 2021
Widespread steep increases in materials costs in November outrun prices for construction projects
Construction officials say efforts to address supply chain challenges have been insufficient.
Market Data | Dec 15, 2021
Demand for design services continues to grow
Changing conditions could be on the horizon.
Market Data | Dec 5, 2021
Construction adds 31,000 jobs in November
Gains were in all segments, but the industry will need even more workers as demand accelerates.
Market Data | Dec 5, 2021
Construction spending rebounds in October
Growth in most public and private nonresidential types is offsetting the decline in residential work.
