“Based on the poor economic conditions over the last several months, this turnaround in demand for design services is a surprise,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Many firms are still struggling, and continue to report that clients are having difficulty getting financing for viable projects, but it’s possible we’ve reached the bottom of the down cycle.”
Key August ABI highlights:
- Regional averages: Midwest (49.0), South (47.4), West (47.4), Northeast (46.5),
- Sector index breakdown: mixed practice (50.9), institutional (48.5), commercial / industrial (46.0), multi-family residential (44.8)
- Project inquiries index: 56.9
- The regional and sector breakdowns are calculated as a 3-month moving average, whereas the index and inquiries are raw numbers.