Archinect diagram using data from the American Institute of Architects.
The American Institute of Architects released its latest economic report this morning, signaling an ongoing trend of increasing demand for design services. The Architecture Billings Index (ABI) remained at a higher level for June with a value of 57.1 and fell only slightly from 58.5 in May.
The value of the new design contracts also remained positive, but lost a few points in June and stood at 58.9 (compared to the record high in May of 63.2). New project inquiries expanded further in June to an almost record high of 71.8 (69.2 in May).
ABI highlights in June
- Regional averages: Midwest (62.0); West (59.7); South (57.3); Northeast (53.2)
- Breakdown by sector: trade / industry (61.0); Apartment building (57.9); institutional (57.3); mixed practice (56.4)
- Project Inquiry Index: 71.8
- Design contract index: 58.9
“Given the current growth in billings near the highest levels in the history of the index, we expect non-residential activity to grow sharply later this year and through 2022,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “However, there is growing concern that architecture firms, as often happens when there is a sudden reversal in market conditions, cannot find enough manpower to cope with the increased workload. Almost six in ten companies say they have problems filling open architecture staff. “Positions.”
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