AIA’s monthly Architecture Billings Index (ABI) for July came in at a score of 50.1. This is a 1-point increase from last month’s score of 49.1, marking a small increase in demand for design services. The ABI is a leading economic indicator of construction activity in the U.S. and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally, regionally, and by project type. A score above 50 represents an increase in billings from the previous month, while a score below 50 represents a contraction.
“The data is not the same as what we saw leading up to the last economic downturn but the continued, slowing across the board will undoubtedly impact architecture firms and the broader construction industry in the coming months,” said AIA chief economist Kermit Baker, Hon. AIA, in a press release. “A growing number of architecture firms are reporting that the ongoing volatility in the trade situation, the stock market, and interest rates are causing some of their clients to proceed more cautiously on current projects.” In July, design contracts posted a score of 49, a 1.3-point decrease from June’s score of 50.3.
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