Architecture Billings Remain Positive in July at 51
Washington, DC, August 26, 2022-The Architecture Billings Index (ABI) score for July was 51.0, according to The American Institute of Architects (AIA).
While this score is down from June’s score of 53.2, it still indicates stable business conditions for architecture firms (any score above 50 indicates an increase in billings from the prior month). Also in July, both the new project inquiries and design contracts indexes moderated from June but remained strong with scores of 56.1 and 52.9 respectively.
“Despite architecture services employment recently surpassing pre-pandemic levels, the ABI score this month reflects the slowest growth since January, and marks the fourth straight month with a lower score than the previous month, indicating a slowing trajectory in billings activity,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “With a variety of economic storm clouds continuing to gather, we are likely looking at a period of slower growth going forward.”
Regional averages were as follows: South (53.6); Midwest (52.2); West (51.7); Northeast (48.4).
The sector index breakdown was multi-family residential (52.8); commercial/industrial (52.2); mixed practice (52.1); institutional (49.6).
Related Topics:The American Institute of Architects