The AIA Architectural Billings Index (ABI) in January has continued to show minimal but maintained growth. However, the index is showing slower growth from those in mid-2021 to the autumn of 2021. The ABI for January was 51 and matches that of December. It has been relatively consistent since November.
The ABI is an economic indicator for nonresidential construction activity, with a lead time of approximately 9–12 months.
Any number over 50 shows growth.
Regional growth was the highest in the South (61.2) and in the mixed practice sector (59.3). With a Project Inquiries index of 61.9, there is reason for some optimism.
AIA Chief Economist, Kermit Baker, Hon. AIA, PhD., commenting on the January numbers explains, “This no doubt reflects delays in the construction sector caused by supply challenges for both labor and materials, as well as ongoing staffing constraints at architecture firms.”
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