AIA Architecture Billings Index Rose to 32.0 in May
Washington, DC, June 24, 2020-The Architecture Billings Index (ABI) score for May was 32.0 compared to 29.5 in April, but still represents a significant decrease in services provided by U.S. architecture firms (any number below 50 indicates a decrease in billings), according to The American Institute of Architects (AIA).
In May, the decline in new project inquiries and design contract scores moderated from April, posting scores of 38.0 and 33.1 respectively.
“A large portion of the design and construction industry remains mired in steep cutbacks as many businesses and organizations are still trying to figure out what actions make sense in this uncertain economic environment,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “There are growing signs of activity beginning to pick up in some areas, but others are seeing a pause as pandemic concerns continue to grow.”
Regional averages are as follows: West, 36.0; South, 30.6; Midwest, 29.7; and Northeast, 25.1.
Sector index breakdown was institutional, 35.7; multi-family residential, 34.8; mixed practice, 28.5; and commercial/industrial, 24.8.
The project inquiries index was 38.0, and the design contracts index was 33.1.
Related Topics:The American Institute of Architects