Architectural Billings Continue Decline in April
The Architecture Billings Index (ABI) in April dropped 3.8 points from March to 29.5, the lowest score in the index’s nearly 25-year history, according to The American Institute of Architects (AIA) Economics & Market Research Group. Design contracts increased slightly from March but remained historically low, rising 0.5 points to 27.6 in April. Billings showed further declines across all regions, with the Northeast faring the worst due to construction shutdowns within its major cities caused by the COVID-19 pandemic. Firms saw lower billings across all specializations in April, with 97% reporting that at least some projects had been negatively affected by the pandemic.
The ABI is produced from the AIA’s monthly Work-on-the-Boards survey, which measures whether architectural firms’ “billings increased, decreased, or stayed the same for the month ended.” A score lower than 50 indicates a decline in billings from the preceding period. See AIA