Elevated Growth in June Despite Lower ABI
July 21, 2021
Billings Growth Continues
The Architecture Billings Index score for June was 57.1, dropping 1.4 points from the May reading of 58.5, though still showing an increase in billings as indicated by any score above 50.
“With the current pace of billings growth near the highest levels ever seen in the history of the index, we’re expecting a sharp upturn in nonresidential building activity later this year and into 2022,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.
In June the Project Inquiries index was at a near-record 71.8, up from 69.2 the previous month. The Design Contracts index was 58.9, down from 63.2. Both scores marked robust demand for design services.
Regional averages for June fluctuated but remained overwhelmingly positive:
Baker also noted: “However, as is often the case when market conditions make a sudden reversal, concerns are growing about architecture firms not being able to find enough workers to meet the higher workloads. Nearly six in 10 firms report that they are having problems filling open architectural staff positions.”
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