Billings Continue to Rebound
June 29, 2021
ABI Hits All-Time High
The Architecture Billings Index score for May was 58.5, gaining a little over half a point from the April reading of 57.9.
“Despite ballooning costs for construction materials and delivery delays, design activity is roaring back as more and more places reopen,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.
In May the Project Inquiries index was 69.2, down from 70.8 the previous month. The Design Contracts index was 63.2, up from 61.7. Overall, the ABI for May was the highest score since the inception of the index.
Regional averages for May saw gains except for the Northeast region:
Baker also noted a bit of caution: “However, concern over rising inflation and ongoing supply chain disruptions, as well as emerging labor shortages, could dampen the emerging construction recovery.”
Visit AIA’s website for more ABI information.