AIA Architecture Billings Index Held Steady at 40.0 in August
Washington, DC, September 23, 2020-The pace of decline during August remained at about the same level as in July and June, posting an Architecture Billings Index (ABI) score of 40.0 (any score below 50 indicates a decline in firm billings), according to the American Institute of Architects (AIA).
Inquiries into new projects during August grew for the first time since February, and the value of new design contracts increased to a score of 46.0. As a result, fewer firms reported a decline in August, despite the fact that they remained negative overall.
“Unfortunately, since the start of the COVID-19 pandemic, many architecture firms are finding fewer inquiries that convert to billable projects,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “While fewer firms reported declining billings in August than during the early months of the COVID-19 pandemic, the fact that the score has been unchanged for the last three months shows that the recovery from this downturn is not progressing at the pace we had hoped to see.”
Regional averages were as follows: Midwest, 41.7; South, 41.6; West, 41.3; and Northeast, 33.9.
The sector index breakdown was multi-family residential, 49.4; mixed practice, 41.9; institutional, 40.2; and commercial/industrial, 35.5.
Project inquiries index were 51.6, and design contracts index were 46.0.
Related Topics:The American Institute of Architects