Architecture Billings Dip but Remain Positive in July
Washington, DC, August 24, 2018-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for July was 50.7 compared to 51.3 in June.
While July’s ABI shows that aggregate demand for architecture firm services continues to increase, much of that growth came from one region-the South.
“Billings at architecture firms in the South remained robust in July, offsetting declining billings in other regions of the country,” said AIA chief economist Kermit Baker, Hon. AIA, PhD. “Despite the dip in the overall ABI number in July, firms are still reporting a healthy increase in new projects.”
Regional averages were as follows: West, 49.6; Midwest, 49.3; South, 55.2; and Northeast, 48.0.
Sector index breakdown were multi-family residential, 54.6; institutional, 51.1; commercial/industrial, 50.1; and mixed practice, 48.2.
The project inquiries index was 60.5, and the design contracts index as 53.8.
Related Topics:The American Institute of Architects