Architecture Billings Fell Below 50 in June
Washington, DC, July 17, 2019-The American Institute of Architects (AIA) Architecture Billings Index (ABI) score for June was 49.1, which is down from 50.2 in May.
Any score below 50 indicates a decrease in billings. Both the project inquiries index and the design contracts index continued to soften in June but remained positive.
“With billings declining or flat for the last five months, it appears that we are settling in for a period of soft demand for design services,” said AIA chief economist Kermit Baker, PhD, Hon. AIA. “With the new design contracts score reaching a 10-month low and the project inquiries score hitting a ten-year low, work in the pipeline may start to get worked off, despite current robust backlogs.”
Regional averages were as follows: South, 51.9; West, 49.3; Midwest, 48.9; and Northeast, 46.1.
The sector index breakdown was mixed practice, 54.3; commercial/industrial, 52.3; institutional, 47.0; and multi-family residential, 46.3.
The project inquiries index was 52.8, and the design contracts index was 50.3.