Billings Ease Slightly from Historic Low in April
The AIA reports that the Architecture Billings Index (ABI), a leading economic indicator for nonresidential construction activity, moderated slightly in May, from an all-time low of 29.5 in April to 32. (A score below 50 indicates decreasing billings.) Inquiries into new work moved from 28.4 to 38; and new design contracts, from 27.6 to 33.1.
“A large portion of the design and construction industry remains mired in steep cutbacks as many businesses and organizations are still trying to figure out what actions make sense in this uncertain economic environment,” said AIA Chief Economist Kermit Baker. “There are growing signs of activity beginning to pick up in some areas, but others are seeing a pause as pandemic concerns continue to grow.”
Explore ABI scores from the past year in the interactive graph below.