Architecture Billings Index slows but remains strong

Submitted by on Wed, 06/22/2022 - 13:56
{"version":"0.3.0","atoms":[],"cards":[],"markups":[["strong"],["a",["href","https:\/\/\/articles\/6512323-firms-pursue-revenue-to-offset-inflations-"]],["b"]],"sections":[[1,"p",[[0,[0],1,"WASHINGTON \u2013 June 22,\n2022 \u2013"],[0,[],0," Architecture firms reported increasing demand for\ndesign services in May, according to a new report today from The American Institute\nof Architects (AIA).\n"]]],[1,"p",[[0,[],0,"\nThe ABI score for May was 53.5. While this score is down from April\u2019s score of\n56.5, it still indicates very strong business conditions overall (any score\nabove 50 indicates an increase in billings from the prior month). Also in May,\nboth the new project inquiries and design contracts indexes expanded, posting\nscores of 63.9 and 56.9 respectively. \n"]]],[1,"p",[[0,[],0,"\n\u201cThe strength in design activity over the past three months has produced a\nbroader base of gains. The Northeast region and Institutional sector have struggled\nwith slow billings activity, but now have posted consecutive months of positive\nscores.\u201d said AIA Chief Economist, Kermit\nBaker, Hon. AIA, PhD. \u201cWith the improvement in inquiries and new design\nprojects, demand for design services will likely remain high for the next\nseveral months, despite strong economic headwinds.\u201d "]]],[1,"p",[[0,[0],1,"Key ABI highlights for\nMay include:"]]],[3,"ul",[[[0,[],0,"Regional averages: West (59.3); Midwest (56.8);\nSouth (52.3); Northeast (51.4)"]],[[0,[],0,"Sector index breakdown: commercial\/industrial (57.7);\nmixed practice (56.2); multi-family residential (54.5); institutional (51.7)"]]]],[1,"p",[[0,[],0,"The regional and\nsector categories are calculated as a three-month moving average, whereas the\nnational index, design contracts and inquiries are monthly numbers."]]],[1,"p",[[0,[],0,"To learn more about\nrecent economic developments impacting design and construction, visit "],[0,[1],1,"AIA\u2019s website"],[0,[],0,"."]]],[1,"p",[]],[1,"h3",[[0,[2],1,"About AIA"]]],[1,"p",[[0,[],0,"Founded\nin 1857, AIA consistently works to create more valuable, healthy, secure, and\nsustainable buildings, neighborhoods, and communities. Through more than 200\ninternational, state and local chapters, AIA advocates for public policies that\npromote economic vitality and public wellbeing."]]],[1,"p",[[0,[],0,"AIA provides members with tools and resources to assist them\nin their careers and business as well as engaging civic and government leaders\nand the public to find solutions to pressing issues facing our communities,\ninstitutions, nation, and world. Members adhere to a code of ethics and conduct\nto ensure the highest professional standards."]]]]}
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Architecture Billings Index slows but remains strong
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