Economy
August Architectural Billings Index: Seventh Month of Improvement
Written by Brett Linton
September 23, 2021
Demand for design services from architecture firms in the U.S. improved for the seventh consecutive month, said the American Institute of Architects. AIA’s Architecture Billings Index rose from 54.6 in July to 55.6 in August. The ABI has expanded each month since January.
The index for new project inquiries fell by 0.3 points to 64.7, while the new design contracts index slipped 1.4 points to 56.6, said AIA.
“The surge in design activity continued in August, signifying an expected upturn in construction activity in the fourth quarter and continuing into 2022,” said AIA Chief Economist Kermit Baker. “This expected expansion will magnify the already serious problems of price inflation and availability of many construction products and materials, as well as the emerging labor shortages in the industry.”
The Architecture Billings Index is an economic indicator for nonresidential construction activity, with a lead time of approximately 9-12 months. A score above 50 indicates an increase in activity, and a score below 50 a decrease.
Key ABI highlights for August include:
- Regional averages: West (57.2); Midwest (55.2); South (52.5); Northeast (51.7)
- Sector index breakdown: mixed practice (56.0); commercial/industrial (54.7); institutional (54.4); multi-family residential (54.3)
Regional and sector scores are calculated as three-month averages.
Below is a graph showing the history of the AIA Architecture Billings Index. You will need to view the graph on our website to use its interactive features; you can do so by clicking here. If you need assistance logging into or navigating the website, please contact us at info@SteelMarketUpdate.com.
Brett Linton
Read more from Brett LintonLatest in Economy
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.