AIA Billings Index for June Down from May but Still Positive at 51.3
Washington, DC, July 19, 2018-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for June was 51.3 compared to 52.8 in May, which is positive since any score over 50 represents billings growth.
As a result, June’s ABI shows that demand for architecture firm services continues to improve across all sectors.
“Architects continue to see increases in demand for their services this summer, with new project work coming in at a healthy pace,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “However, business conditions are beginning to vary across the country. While essentially remaining flat in the Northeast and Midwest, billings jumped in the South while dropping in the West.”
Regional averages were as follows: West, 46.9; Midwest, 49.8; South, 57.4; and Northeast, 50.2.
The sector index breakdown was multi-family residential, 54.6; institutional, 51.6; commercial/industrial, 53.4; and mixed practice, 49.3.
The project inquiries index score was 56.0, and the design contracts index was 54.1.
Related Topics:The American Institute of Architects