The American Institute of Architects’ latest data show that the Architectural Billings Index increased from 51 in November to 52 in December, but above the benchmark of 50 (scores over 50 indicate an increase in firm billings). New inquiries have grown since last month, from 59.4 up to 66.8, and design contracts have remained unchanged at 55.8.
Although there have been widespread concerns in the industry over inflation as well as labor and supply shortages, especially amidst the spike in covid cases due to the omicron variant, firms have continued to report a high volume of upcoming work with new design contracts and inquiries remaining strong.
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