Source: American Institutes of Architects
The Architecture Billings Index (ABI) saw more poor conditions last month, indicating a drop in design activity at U.S. architecture firms, and suggesting upcoming weakness in spending on nonresidential construction projects. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending.
Weakest data are found in the West, where a 44.3 score represents the lowest three-month moving average of the four regional markets. Across the country, the Midwest is clocked at 48.0 followed by the South (47.6) and the Northeast (46.4).
Across the country, the American Institute of Architects (AIA) reported the June ABI score was 45.9, nearly identical to the mark of 45.8 in May. This score reflects a decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 54.4, up slightly from mark of 54.0 the previous month.
In the tracked sectors, the closest to hitting the 50 neutral score was multi-family residential at 49.0. Commercial and industrial rated 46.9, followed by institutional (46.0) and mixed practice (45.9)
The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers.
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