In a positive sign for Concord’s clients in the architecture industry. The American Institute of Architects’ monthly Architecture Billings Index for September shows an upswing after a slight decline in August. The index has been positive in six of nine months this year.
The index is seen as a leading indicator of construction activity, given the typical nine-to-twelve-month delay between design work and the beginning of construction.
“Aside from uneven demand for design services in the Northeast, all regions are project sectors are in good shape,” said AIA Chief Economist Kermit Baker. “Areas of concern are shifting to supply issues for the industry, including volatility in building materials costs, a lack of a deep enough talent pool to keep up with demand, as well as a lack of contractors to execute design work.”
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