The Architecture Billings Index in March saw the largest drop ever recorded as a result of economic uncertainty, and the number in April are even worse.
The Architecture Billings Index (ABI), the measure the AIA uses to track design services demand, took a dour downturn in March 2020 as the coronavirus pandemic shook economic confidence and locked up job sites—but April’s numbers, released this morning, are much worse.
The ABI is a composite number that factors in regional averages, design demand by sector, project inquiries, and existing design contracts. Anything over 50 represents month-over-month growth, anything under is a decrease. In March, billings had dropped to 33.3, the steeped decline ever recorded in the metric’s 25-year history, but in April the ABI slid even further to 29.5.
Regionally, the Northeast was predictably hit the hardest, as demand slid to 23.0. The West figures were the strongest at 38.1 (still severe contraction), while the Midwest came in at 31.2 and the South at 31.1. This is unsurprising, as construction, even a month later, remains highly constricted across the U.S. even as some cities have begun tentatively allowing non-essential construction again.
Read on >>>Source: Archpaper April’s Architecture Billings Index drops even further – Archpaper.com