December 15, 2021

Billings Down in November, Still Positive

The Architecture Billings Index score for November was 51.0, down 3.3 points from the October reading of 54.3. Since any score above 50 indicates growth, demand for architectural services was considered positive.

“The period of elevated billing scores nationally, and across the major regions and construction sectors seems to be winding down for this cycle,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.

In November the Project Inquiries index was 59.4. The Design Contracts index was 55.8. Both were down from the previous month.

Regional averages for November were as follows:

Describing market conditions, Baker cautioned, “Ongoing external challenges like labor shortages, supply chain disruptions, spiking inflation, and prospects for rising interest rates will likely continue to slow the growth in firm billings in the coming months.”

For more information about the Architectural Billings Index, visit the AIA website.