AIA’s monthly Architecture Billings Index came in at 51.0, a 2.2 point decrease from June's score of 53.2. The ABI is a leading economic indicator of construction activity in the U.S. and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally, regionally, and by project type. A score above 50 represents an increase in billings from the previous month, while a score below 50 represents a contraction.
"The demand for design services held in positive territory for July but showed signs of softening," says Ali Wolf, the chief economist of ARCHITECT's parent company, Zonda. "The housing market fell into contraction territory in July and there are signs that other real estate sectors are following a slower path of growth as well.”
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