Billings Stalled in October
November 19, 2020
Pace of Decline Relatively Flat
The Architecture Billings Index score for October was 47.5, gaining just half a point from the September reading.
“Though still in negative territory, the moderating billings score along with the rebound in design contracts and inquiries provide some guarded optimism,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.
In October the project inquiries index was 59.1, up from 57.2 the previous month. The design contracts index was 51.7, up from 48.9.
Regional averages all made gains in October.
Baker added, “The pace of recovery will continue to vary across regions and sectors.”