Billings Up In August

September 21, 2022

Billings Up In August

The Architecture Billings Index score for August was 53.3, gaining 2.3 points from the July score of 51.0. The Project Inquiries index was 57.9, up from 56.1 last month. The Design Contracts index scored 52.3, retracting less than a point from 52.9. Scores above 50 indicate increased demand for design services.

“While a strengthening billings score is encouraging, the flat scoring across regions and sectors is indicative of a nationwide deceleration over the next several months,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD.

Regional averages for August, 2022:

July August
West 51.7 50.2
South 53.6 52.9
Midwest 52.2 51.4
Northeast 48.4 49.8

Sector index breakdown for August, 2022:

July August
Commercial/industrial 52.2 51.2
Mixed practice 52.1 51.2
Multi-family residential 52.8 52.0
Institutional 49.6 52.0

Baker continued, “A variety of economic storm clouds continue to gather, but since design activity continues to increase, we can expect at least another 9–12-month runway before building construction activity is negatively affected.”

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