Architecture Billings Index Ticks Up

The latest Architecture Billings Index released by The American Institute of Architects registered a one-point gain to record a score of 50.1 in July compared June's 49.1. The project inquiries index came in at 54.9 and the design contracts index measured 49.0. Scores for the sector index breakdown were: multi-family residential (50.6); institutional (49.8); commercial/industrial (49.2); and mixed practice (48.9).
"The data is not the same as what we saw leading up to the last economic downturn, but the continued slowing across the board will undoubtedly impact architecture firms and the broader construction industry in the coming months," said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. "A growing number of architecture firms are reporting that the ongoing volatility in the trade situation, the stock market, and interest rates are causing some of their clients to proceed more cautiously on current projects."