Billings Negative But Stabilizing in May

July 23, 2020
Industry News

Index Scores Show Signs of Stabilizing

The Architecture Billings Index score for June was 40.0, gaining 8 points from the May reading of 32.0.

“While business conditions remained soft at firms across the country, those with a multifamily residential specialization saw the most positive signs,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.

In June the project inquiries index was 49.3, up from 38.0. The design contracts index was 44.0, up from 33.1.

Regional averages all made gains.

May June
West 36 36.8
South 30.6 35.9
Midwest 29.7 36.8
Northeast 25.1 34.2

Baker added, “Unfortunately, conditions at firms with a commercial/industrial specialization are likely to remain weak for an extended period of time, until hospitality, office and retail facilities can fully reopen, and design demand for this space begins to increase.”