Architecture Billings Relatively Flat in July
August 21, 2019
ABI Up Slightly; Design Contracts Weaken
The Architecture Billings Index score for July was 50.1, gaining one point from the June score of 49.1. Billings abated in all regions except for the West, and the design contracts index dropped into the negative for the first time in nearly a year.
“The data is not the same as what we saw leading up to the last economic downturn but the continued, slowing across the board will undoubtedly impact architecture firms and the broader construction industry in the coming months,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.
The project inquiries index increased from 52.8 to 54.9; the design contracts index lost 1.3 points, landing at 49.0.
Baker added, “A growing number of architecture firms are reporting that the ongoing volatility in the trade situation, the stock market, and interest rates are causing some of their clients to proceed more cautiously on current projects.”