Architectural Billings Slightly Improve in May
The Architecture Billings Index (ABI) in May increased 2.5 points from April to 32.0 but still indicates poor business conditions at a majority of firms, according to The American Institute of Architects (AIA) Economics & Market Research Group. Design contracts increased 5.5 points in May to 33.1. May billings showed further declines across all regions, with the Northeast faring the worst due to continued COVID-related construction shutdowns during that time period. Firms saw lower billings across all specializations in May, especially for commercial/industrial firms which have been the most 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