Architectural Billings Increase in June
The Architecture Billings Index (ABI) in June increased 8.0 points from May to 40.0 but still reflects a sentiment of poor business conditions at a majority of firms, according to The American Institute of Architects (AIA) Economics & Market Research Group. Design contracts increased 10.9 points in June to 44.0.
June billings showed stabilizations across all regions, except for the West, which showed a similar decline to May. Firms across all specializations reported soft billings, except for those with multi-family residential work, which was at its highest point since January. Commercial/industrial firms continued to be the most negatively affected by the pandemic and are predicted to stay that way until restaurants and retail locations reopen permanently.
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