In the News – Architecture Billings Index Posts a Decline for August
The American Institute of Architects (AIA) reported the August Architecture Billings Index (ABI) score was 49.7, down from the mark of 51.5 in the previous month.
This score reflects a decrease in design services (any score above 50 indicates an increase in billings).
The new projects inquiry index was 61.8, up sharply from a reading of 57.5 the previous month.
“This is only the second month this year where demand for architectural services has declined and it is only by a fraction of a point,” said AIA chief dconomist, Kermit Baker, Hon. AIA, PhD. “Given the solid numbers for new design contracts and project inquiries, it doesn’t appear that this is the beginning of a broader downturn in the design and construction industry.”
The regional averages were South, 55.2; Midwest, 52.8; West, 49.0 and Northeast, 44.9.
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