Architecture Firm Billings Rebound Modestly in August

Inquiries into new projects continued to grow, and more firms reported an increase in design contracts in August than in July, although the majority of firms continue to report a decline.
Graph: Courtesy of American Institute of Architects (AIA)

The AIA’s Architecture Billings Index (ABI) unexpectedly showed a modest rebound in architecture firm billings in August with a score of 51.4. (A score over 50 indicates growth in firm billings.) This comes on the heels of four consecutive months of fairly substantial declines. Comments from survey panelists this month continue to indicate very mixed business conditions around the country, and the AIA will be tracking the score closely over the coming months.

The Conference Board’s Consumer Confidence Index declined sharply in August, falling to a score of 44.5 (1985=100), the lowest in more than two years, as consumers became more negative about the future outlook.

Source: Jennifer Riskus, AIA.