AIA’s monthly Architecture Billings Index (ABI) for June came in at a score of 49.1. This is a 1.1-point decrease from last month’s score of 50.2, marking a contraction 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.
“With billings declining or flat for the last five months, it appears that we are settling in for a period of soft demand for design services,” says AIA chief economist Kermit Baker, Hon. AIA, in a press release. “With the new design contracts score reaching a 33-month low and the project inquiries score hitting a 10-year low, work in the pipeline may start to get worked off, despite current robust backlogs.” In June, design contracts posted a score of 50.3, a 0.6-point decrease from May’s score of 50.9.
Read on HERE >>>> Source: Architect https://www.architectmagazine.com/practice/aia-design-contracts-hit-33-month-low_o