Architecture Billings Continue Pullback
May 20, 2020
Billings Further Decline in April
The Architecture Billings Index score for April was 29.5, dropping another 3.8 points from the March score of 33.3.
“With the dramatic deceleration that we have seen in the economy since mid-March, it’s not surprising that businesses and households are waiting for signs of stability before proceeding with new facilities,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.
The project inquiries index was 28.4. The design contracts index was 27.6.
Baker added, “Once business activity resumes, demand for design services should pick up fairly quickly. Unfortunately, the precipitous drop in demand for design services will have lasting consequences for some firms.”