Architecture Billings Declined Slightly but Remained Positive in June
Washington, DC, July 22, 2022-The Architecture Billings Index score for June was 53.2, according to the American Institute of Architects (AIA).
While this score is down slightly from May’s score of 53.5, it still indicates moderately strong business conditions overall (any score above 50 indicates an increase in billings from the prior month). Also in June, both the new project inquiries and design contracts indexes moderated from May but continued to show growth, posting scores of 58.2 and 52.2 respectively.
“Ongoing project activity at architecture firms as well as new work coming online remains strong, pushing project backlogs up to seven months on average nationally,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “In spite of heavy workloads, employment at architecture firms has stabilized, suggesting that adding new employees is becoming even more challenging as the building construction sector continues to recover.”
Regional averages were as follows: West (57.8); Midwest (54.8); South (51.5); Northeast (48.7).
The sector index breakdown was institutional (53.5); mixed practice (52.8); multi-family residential (52.6); commercial/industrial (52.5).
Related Topics:The American Institute of Architects