The Architecture Billings Index (ABI) recorded its seventh consecutive positive month, according to a new report today from The American Institute of Architects (AIA).
The ABI score for August was 55.6, up from July’s score of 54.6. Any score above 50 indicates an increase in billings from the prior month. During August, scoring for both the new project inquiries and design contracts moderated slightly but remained in positive territory, posting scores of 64.7 and 56.6 respectively.
“The surge in design activity continued in August, signifying an expected upturn in construction activity in the fourth quarter and continuing into 2022,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “This expected expansion will magnify the already serious problems of price inflation and availability of many construction products and materials, as well as the emerging labor shortages in the industry.”
Key ABI highlights for August include:
- Regional averages: West (57.2); Midwest (55.2); South (52.5); Northeast (51.7)
- Sector index breakdown: mixed practice (56.0); commercial/industrial (54.7); institutional (54.4); multi-family residential (54.3)
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
To learn more about recent economic developments impacting design and construction, visit AIA’s website.
Related Stories
Market Data | Jun 19, 2018
America’s housing market still falls short of providing affordable shelter to many
The latest report from the Joint Center for Housing Studies laments the paucity of subsidies to relieve cost burdens of ownership and renting.
Market Data | Jun 18, 2018
AI is the path to maximum profitability for retail and FMCG firms
Leading retailers including Amazon, Alibaba, Lowe’s and Tesco are developing their own AI solutions for automation, analytics and robotics use cases.
Market Data | Jun 12, 2018
Yardi Matrix report details industrial sector's strength
E-commerce and biopharmaceutical companies seeking space stoke record performances across key indicators.
Market Data | Jun 8, 2018
Dodge Momentum Index inches up in May
May’s gain was the result of a 4.7% increase by the commercial component of the Momentum Index.
Market Data | Jun 4, 2018
Nonresidential construction remains unchanged in April
Private sector spending increased 0.8% on a monthly basis and is up 5.3% from a year ago.
Market Data | May 30, 2018
Construction employment increases in 256 metro areas between April 2017 & 2018
Dallas-Plano-Irving and Midland, Texas experience largest year-over-year gains; St. Louis, Mo.-Ill. and Bloomington, Ill. have biggest annual declines in construction employment amid continuing demand.
Market Data | May 29, 2018
America’s fastest-growing cities: San Antonio, Phoenix lead population growth
San Antonio added 24,208 people between July 2016 and July 2017, according to U.S. Census Bureau data.
Market Data | May 25, 2018
Construction group uses mobile technology to make highway work zones safer
Mobile advertising campaign urges drivers who routinely pass through certain work zones to slow down and be alert as new data shows motorists are more likely to be injured than construction workers.
Market Data | May 23, 2018
Architecture firm billings strengthen in April
Firms report solid growth for seven straight months.
Market Data | May 22, 2018
Vacancies stable, rents rising, and pipeline receding, according to Transwestern’s 1Q US Office Market report
The Big Apple still leads the new construction charge.
