The October 2021 Architecture Billings Index rose for yet another month, but cracks are appearing as some regions declined
After the pandemic battered architectural demand in 2020, and 2021 saw fortunes drastically turned around, growth may finally be slowing down. In the October 2021 Architecture Billings Index (ABI) figures released by the AIA yesterday, demand for architectural services remained strong going into the end of the year but continues to be constrained by staffing woes, inflation, and the Gordian knot that the U.S. supply chain currently finds itself tied into.
On the whole, the October ABI came in at 54.3—any measure of the three-month composite index over 50 represents growth, anything under 50 contraction—a positive trend for demand and signed contracts, but down from the 56.6 figure charted in September.
“Unlike the economy-wide payroll figures, architecture services employment has surpassed its pre-pandemic high,” said AIA Chief Economist, Kermit Baker, in a press release acknowledging the challenges facing the industry. “Staffing continues to be a growing concern at architecture firms and may serve to limit their ability to take on new projects.”
Read on >>>> Source: ArchPaper The October Architecture Billings Index rose again, but growth appears to be tapering