Billings Down, Remain Positive

August 25, 2022

Billings Down, Remain Positive

The Architecture Billings Index score for July was 51.0, dropping 2.2 points from the June score of 53.2. The Project Inquiries index was 56.1, down from 58.2 last month. The Design Contracts index scored 52.9, up less than a point from 52.2. Scores above 50 indicate increased demand for design services.

“Despite architecture services employment recently surpassing pre-pandemic levels, the ABI score this month reflects the slowest growth since January, and marks the fourth straight month with a lower score than the previous month, indicating a slowing trajectory in billings activity,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD.

Regional averages for July, 2022:

June July
West 57.8 51.7
South 51.5 53.6
Midwest 54.8 52.2
Northeast 48.7 48.4

Sector index breakdown for July, 2022:

June July
Commercial/industrial 52.5 52.2
Mixed practice 52.8 52.1
Multi-family residential 52.6 52.8
Institutional 53.5 49.6

Baker continued, “With a variety of economic storm clouds continuing to gather, we are likely looking at a period of slower growth going forward.”

For more information about the Architectural Billings Index, visit the AIA website.