AIA: May Billings 'Growing but Slowing'

Last month's Architecture Billings Index came in at 53.5, down from April's score of 56.5.

AIA’s monthly Architecture Billings Index lowered in May but remained positive, falling 3 points from March's score of 56.5. 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 directional trend for the ABI matches the national economy: growing but slowing," explains Ali Wolf, the chief economist of ARCHITECT's parent company, Zonda. "Companies are thinking through their positioning for the next few years and are working closely with their architectural firms to understand the best use of their space.”