AIA Architecture Billings Increased to 50.1 in July
Washington, DC, August 22, 2019-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score of 50.1 in July showed a small increase in design services since June, which was a score of 49.1.
Any score above 50 indicates an increase in billings.
In July, the design contracts score dipped into negative territory for the first time in almost a year. Additionally, July billings softened in all regions except the West, and at firms of all specializations except multifamily residential.
“The data is not the same as what we saw leading up to the last economic downturn but the continued, slowing across the board will undoubtedly impact architecture firms and the broader construction industry in the coming months,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “A growing number of architecture firms are reporting that the ongoing volatility in the trade situation, the stock market, and interest rates are causing some of their clients to proceed more cautiously on current projects.”
Regional averages were West, 51.2; Midwest, 48.9; South, 48.3; and Northeast, 48.3.
The Sector index breakdown was as follows: multi-family residential, 50.6; institutional, 49.8; commercial/industrial, 49.2; and mixed practice, 48.9.
The project inquiries index score was 54.9, and the design contracts index score was 49.0.
Related Topics:The American Institute of Architects