Architectural Billings Unchanged in July
The Architecture Billings Index (ABI) in July was unchanged from June at 40.0, still reflecting a sentiment of poor business conditions at most firms, according to The American Institute of Architects (AIA) Economics & Market Research Group. Design contracts fell 2.3 points in July to 41.7.
July billings stabilized across all regions, except for the Northeast which is still showing the softest business conditions. Firms across all specializations reported soft but steady billings, except for those with multi-family residential work, which was at its highest point since January and nearly in positive territory.