AIA Reports a Drop in June's Architecture Billings
July 22, 2009
After showing signs of stabilization over the last three months,
the Architecture Billings Index (ABI) plunged nearly five points
in June. The American Institute of Architects (AIA) reported the
June ABI rating was 37.7, down from the 42.9 rating the previous
month. The new projects inquiry score was 53.8, the fourth straight
month with a score in the mid-50s.
"It appears as though we may have not yet reached the bottom
of this construction downturn," says AIA chief economist Kermit
Baker, PhD, Hon. AIA. "Architecture firms are struggling and
concerned that construction market conditions will not even improve
as soon as next year. There has also been little movement in terms
of stimulus funding allocated for design projects having the desired
impact of leading to new work."
Key June ABI highlights:
- Regional averages: Northeast (42.8), South (40.5), West (39.9),
- Sector index breakdown: mixed practice (43.5), multi-family
residential (42.7), commercial/industrial (39.5), institutional
- Project inquiries index: 53.8.
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