ABI decline slows in July
“Even though architecture firm billings nationally were down again in July, the downturn moderated substantially,” said AIA Chief Economist Kermit Baker, when discussing the latest Architecture Billings Index numbers in an August 22 AIA release.
The American Institute of Architects reported the July ABI score was 48.7, up considerably from the mark of 45.9 in June and pointing to a slower decline in July in design activity at U.S. architecture firms.
“As long as overall economic conditions continue to show improvement, modest declines should shift over to growth in design activity over the coming months,” Baker said, in the release.
The South was the only region to report an increase in design activity in July, posting a score of 52.7. The Midwest scored 46.7; the West 45.3); and the Northeast 44.3. Multi-family residential saw the most acitivyt, followed by mixed practice, commercial/industrial and institutional projects.