According to ARCHITECT's Katharine Keane, the AIA's monthly Architecture Billings Index (ABI) came in at a score of 51.3 in June, marking the ninth consecutive month of gains. 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, as seen this month, represents an increase in billings from the previous month, while a score below 50 represents a contraction.
June's score is 1.5 points lower than May's reading of 52.8, indicating that the industry is still growing, but at a slower pace than last month.
"Architects continue to see increases in demand for their services this summer, with new project work coming in at a healthy pace," said AIA chief economist Kermit Baker, Hon. AIA, in an AIA press release. "However, business conditions are beginning to vary across the country. While essentially remaining flat in the Northeast and Midwest, billings jumped in the South while dropping in the West."Read More