Last month’s Architecture Billings Index came in at 52.0, 1.0 point above November’s score of 51.0.
AIA’s monthly Architecture Billings Index fell but remained positive in December, coming in at 52.0, which is a one point increase from November’s ABI of 51.0. The ABI is a leading economic indicator of construction activity in the U.S. and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally, regionally, and by project type. A score above 50 represents an increase in billings from the previous month, while a score below 50 represents a contraction.
Design contracts and new project inquiries also moderated but remained positive in December. New project inquiries posted a score of 66.8, rising 7.4 points from November’s score of 59.4. Design contracts came in at 55.8 points, holding steady from November’s score. “Since demand for design projects has been healthy over the last year, recruiting architectural staff to keep up with project workloads has been a growing concern for firms,” said AIA chief economist, Kermit Baker, Hon. AIA, in a press release from AIA. “Architecture is one of the few industries where payrolls have already surpassed their pre-pandemic high, so meeting future staffing needs is a challenge that most firms will need to confront.”
Read on >>>> Source: AIA: December Billings End the Year on a High | Architect Magazine