Architecture Billings Rose to 40.0 in June
Washington, DC, July 22, 2020-AIA’s Architecture Billings Index (ABI) score for June was 40.0 compared to 32.0 in May, according to a new report from The American Institute of Architects (AIA).
The May ABI score indicates that a significant share of architecture firms still saw their billings decline from May to June, however the share reporting declines slowed significantly. Index scores for new project inquiries and new design contracts also showed signs of stabilizing, posting scores of 49.3 and 44.0 respectively.
“While business conditions remained soft at firms across the country, those with a multifamily residential specialization saw the most positive signs,” said AIA chief economist Kermit Baker. “Unfortunately, conditions at firms with a commercial/industrial specialization are likely to remain weak for an extended period of time, until hospitality, office and retail facilities can fully reopen, and design demand for this space begins to increase.”
Regional averages were as follows: Midwest, 36.8; West, 36.8; South, 35.9; and Northeast, 34.2.
The sector index breakdown was multi-family residential, 44.7; institutional, 38.9; mixed practice, 35.3; and commercial/industrial, 30.1.
The project inquiries index was 49.3, and the design contracts index was 44.0.
Related Topics:The American Institute of Architects