The latest Architecture Billings Index (ABI) from the American Institute of Architects and Deltek remained flat in July with a score of 50 (any score above 50 indicates an increase in firm billings), indicating mostly stable business conditions.
“This is the third straight month that billings at architecture firms have stabilized,” said AIA Chief Economist Kermit Baker in a statement. "New project work has been even stronger over this period. This suggests that design work may finally begin to increase over the coming months, although somewhat modestly.”
The strongest growth in billings was reported by firms specializing in commercial and industrial design, while firms in the multifamily residential markets continue to report declining billings. July marks the ninth consecutive month of growth for firms located in the Midwest, which reported a regional average score of 51.6—firms in other regions reported modest declines in billings.
Compare recent ABI scores with the interactive graph below.