Billings at architecture firms remained flat in July, signaling mostly stable business conditions, reports the American Institute of Architects (AIA). The organization’s monthly Architecture Billings Index (ABI) shows that billings hovered at 50.0, slightly down from June’s reading of 50.1.
However, any score above 50.0 indicates an increase in billings.
“This is the third straight month that billings at architecture firms have stabilized,” says AIA chief economist Kermit Baker. “New project work has been even stronger over this period. This suggests that design work may finally begin to increase over the coming months, although somewhat modestly.”
AIA officials say architectural firms specializing in commercial/industrial work reported their strongest billings growth in more than a year. The sector recorded a July score of 52.7. Firms specializing in multifamily residential construction reported continued declines, scoring 45.4. Firms specializing in institutional work reported a score of 51.2.
Regionally, the Midwest reported a score of 51.6, which is the ninth straight month of growth for firms located in the region. All other regions reported declines, including the West (49.6), Northeast (49.3), and South (48.9).