The AIA recently released new data showing that the Architecture Billings Index (ABI) rose to 47 in September, up seven points from August. (A score below 50 indicates decreasing billings). New design inquiries grew for the second time since February, increasing from 51.6 to 57.2, and the value of new design contracts also moved up from 46 to 48.1.
“Despite the multi-family residential sector showing signs of improvement, overall business conditions are recovering at a disappointingly slow pace,” said AIA Chief Economist, Kermit Baker. “Other sectors may begin to stabilize in the coming months, but across the board improvement shouldn’t be expected until the economic impact of the pandemic subsides significantly.”
Explore ABI scores from the past year in the interactive graph below.