Growth Dips in June Yet Remains Positive
July 20, 2018
Billings Stable Across Sectors
“Architects continue to see increases in demand for their services this summer, with new project work coming in at a healthy pace,” said American Institute of Architects Chief Economist Kermit Baker, Hon. AIA, describing the June Architecture Billings Index.
The overall ABI for June was 51.3, down from the May reading of 52.8. Despite the dip, any score above 50 indicates growth in billings.
The projects inquiry index was 56.0, down slightly from the previous score of 56.7. The design contracts index also decreased from 54.1 in May to 50.1 in June.
Baker also said business conditions are beginning to vary across the country. “While essentially remaining flat in the Northeast and Midwest, billings jumped in the South while dropping in the West,” he said.