Record Drop in Billings Moderates in May

June 24, 2020
Industry News

Record Drop in Billings Moderates in May

The Architecture Billings Index score for May was 32.0, gaining 2.5 points from the April reading of 29.5.

“A large portion of the design and construction industry remains mired in steep cutbacks as many businesses and organizations are still trying to figure out what actions make sense in this uncertain economic environment,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.

The project inquiries index was 38.0. The design contracts index was 33.1.

Regional averages were as follows: West (36.0); South (30.6); Midwest (29.7); Northeast (25.1)

Baker added, “There are growing signs of activity beginning to pick up in some areas, but others are seeing a pause as pandemic concerns continue to grow.”