According to new data from the American Institute of Architects (AIA), architectural firms experienced an increase in demand for design services in October 2021.
The ABI for October was 54.3. Although this is slightly below the September value of 56.6, it indicates very good trading conditions (any value above 50 indicates an increase in liquidations compared to the previous month). In October, evaluations for new project applications and design contracts rose to 62.9 and 58.0, respectively.
“In contrast to macroeconomic wage numbers, architectural services employment has surpassed pre-pandemic levels,” AIA chief economist Kermit Baker told the Hon. AIA, Ph.D. “Personnel is always a growing problem for firms and can be used to limit their ability to complete new projects.”
ABI highlights for October include:
• Regional average: Midwest (61.9); South (58.2); West (53.4); Northeast (48.6)
• Breakdown of the sector index: mixed practice (58.7); commercial / industrial (57.4); Condominiums (55.8); institutional (51.4)