Architecture Billings Continue to Grow in 2022March 2nd, 2022 | Category: Industry News
Architecture firms began 2022 with a slight improvement in business conditions, according to The American Institute of Architects (AIA). The AIA’s Architecture Billings Index (ABI) score for January was 51.0 compared to 51.0* in December (any score over 50 indicates billings growth). Inquiries into new work and the value of new design contracts both remained strong, with scores of 61.9 and 56.1, respectively.
“Architecture billings, while remaining at very healthy levels in recent months, have slowed considerably from the middle of last year,” says AIA chief economist Kermit Baker. “This no doubt reflects delays in the construction sector caused by supply challenges for both labor and materials, as well as ongoing staffing constraints at architecture firms.”
*Every January, the AIA research department updates the seasonal factors used to calculate the ABI, resulting in a revision of recent ABI values.