Continuing the upward trend, the Architecture Billings Index (ABI) score has continued to increase every month since January, as reported by the American Institute of Architects, with a score of 58.5 in May—reaching historic highs not seen since November 2007. (A score below 50 indicates decreasing billings.) Design contracts are also at an all-time high at 63.2, while inquiries are at 69.2, slightly down from 70.8 in April.
“Despite ballooning costs for construction materials and delivery delays, design activity is roaring back as more and more places reopen,” said AIA chief economist Kermit Baker. “However, concern over rising inflation and ongoing supply chain disruptions, as well as emerging labor shortages, could dampen the emerging construction recovery.”
Explore ABI scores from the past year in the interactive graph below.
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