Bad news for those hoping the worst was over, as July’s Architecture Billings Index saw another decline across the board and in all regions.
By Jonathan Hilburg
After the American Institute of Architects (AIA) released their Architecture Billings Index (ABI) figures for June 2020, it seemed like the design sector was approaching a doom-and-gloom plateau. Although figures were still negative, they were trending in such a way as to suggest that maybe the worst was over; now, in the newly-released July ABI, it seems there’s still a ways to go before demand and billing trend positive again.
In June, the ABI (the composite number reflecting regional averages, design demand by sector, project inquiries, and existing design contracts; anything over 50 represents a month-over-month increase, anything under, a decrease) was at 40.0, indicating another decline. It seemed that things might be improving, but July’s ABI was also 40, representing yet another modest decline for the fourth month in a row.
Breaking last month’s Architecture Billings Index down by components, inquiries into new projects only slid from 49.3 to 49.1 in July, representing a slight month-over-month dip. Newly signed design contracts, however, took a tumble, falling from 44.0 in June to 41.7.
It appears that clients are interested, but still cautious about where to place their money, given the ongoing coronavirus pandemic and associated recession we find ourselves in.
Read on >>>> Source: ArchPaper After an optimistic June, July’s Architecture Billings Index stalled out