Billings Negative But Stabilizing in May
July 23, 2020
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.
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.”