July Billings Index Positive Despite Dip
August 22, 2018
Firms in the South Strong
“Billings at architecture firms in the South remained robust in July, offsetting declining billings in other regions of the country,” said American Institute of Architects Chief Economist Kermit Baker, Hon. AIA, describing the recent Architecture Billings Index.
The ABI score for July was 50.7, down from June’s reading of 51.3. Any score above 50 indicates growth in billings.
The project inquiry index was 60.5, up from the previous month’s score of 56.0. The new design contracts index decreased from 54.1 to 53.8.
Baker added, “Despite the dip in the overall ABI number in July, firms are still reporting a healthy increase in new projects.”