Architecture billings continue growth, but slow in June

by Samantha Ashenhurst | July 23, 2018 2:34 pm

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Architecture billings slowed in June, but remained positive for the ninth consecutive month, according to the American Institute of Architects[2] (AIA), which reported an Architecture Billings Index[3] (ABI) score of 51.3, compared to 52.8 in May. Scores over 50 represent billings growth, meaning June’s ABI demonstrates improved demand for architecture firm services across all sectors.

“Architects continue to see increases in demand for their services this summer, with new project work coming in at a healthy pace,” said Kermit Baker, AIA chief economist. “However, business conditions are beginning to vary across the country.”

Specific sectors performed as follows on the ABI:

• commercial/industrial scored 53.4;
• institutional scored 51.6;
• multifamily residential scored 54.6; and
• mixed practice scored 49.3.

In regard to regional averages, the numbers remain largely the same from last month; the Midwest came in at 49.8 (down slightly from 50.2 in May) and the North reported 50.2 (from 50.6 in May). The West experienced the most notable dip, reporting at 46.9 compared to 51.9. Meanwhile, firms in the South experienced slight growth, rising to 57.4 in June from a previous score of 55.0.

The reported design contracts index increased slightly, climbing to 54.1 (from the last reported 53.3), while the projects inquires index dipped to 56.0 from 59.3.

Regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts, and inquiries are monthly figures.

Produced by the AIA Economics and Market Research Group[4], the ABI is derived from a monthly survey on the increase, decrease, or consistency of billings, which is sent to firms owned by AIA members.

To read more, click here[5].

Source URL: https://www.constructionspecifier.com/architecture-billings-continue-growth-but-slow-in-june/

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