AIA Billings Index Inched Down But Remained Positive in May
Washington, DC, June 20, 2019-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for May was 50.2, slightly below April's 50.5 rate.
Any score above 50 indicates an increase in billings. Both the project inquiries index and the design contracts index softened in May but remained positive.
“The last four consecutive months, firm billings have either decreased or been flat, the longest period of that level of sustained softness since 2012,” said AIA chief economist Kermit Baker, PhD, Hon. AIA. “While both inquiries into new projects and the value of new design contracts remained positive, they both softened in May, another sign the amount of pending work in the pipeline at firms may be starting to stabilize.”
Regional averages were as follows: Midwest, 51.6; South, 51.4; West, 50.0; and Northeast, 47.5.
The Sector index breakdown was mixed practice, 55.4; commercial/industrial, 53.0; institutional, 48.0; and multi-family residential, 46.0.
The project inquiries index was 56.2, and the design contracts index was 50.9.