Architectural Billings Stayed Strong in July
Sept. 1, 2021 – The Architecture Billings Index (ABI) recorded its sixth consecutive positive month, according to a report from The American Institute of Architects (AIA).
The ABI score for July was 54.6. Though that was down slightly from June’s 57.1, it still indicates very strong business conditions, overall. A score above 50 indicates an increase in billings from the prior month. The index covers the architecture business nationwide.
Scoring for new project inquiries also declined in July but remained near its all-time high at 65.0. The score for new design contracts was essentially unchanged from June to July with a score of 58.0.
"The strength of this recovery is unprecedented," said AIA Iowa executive director, Jessica Reinert. “We are fortunate to be seeing a continuous increase in billings that is allowing local firms to have the confidence to hire new staff, upgrade technology and reinvest in their firms.”
Key ABI highlights for July:
Regional averages: Midwest (58.3); West (56.0); South (54.6); Northeast (54.1)
Sector index breakdown: commercial/industrial (58.4); institutional (55.4); multi-family residential (54.7); mixed practice (54.4)
The regional and sector categories are calculated as a three-month moving average. The national index, design contracts, and inquiries are monthly numbers.
To learn more about recent economic developments affecting design and construction, visit AIA’s website.