by Jonathan McGaha | July 31, 2009 12:00 am
The American Institute of Architects, Washington, D.C., reported that the June Architecture Billings Index was down nearly 5 points in June. The June ABI rating was 37.7, down from 42.9 the previous month. This score indicates a sharp decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry score was 53.8, the fourth straight month with a score in the mid-50s. “It appears as though we may have not yet reached the bottom of this construction downturn,” said AIA Chief Economist Kermit Baker, Ph.D., Hon. AIA. “Architecture fi rms are struggling and concerned that construction market conditions will not even improve as soon as next year. There has also been little movement in terms of stimulus funding allocated for design projects having the desired impact of leading to new work.”
Key June ABI highlights: Regional averages: Northeast 42.8, South 40.5, West 39.9, Midwest 36.2 Sector index breakdown: mixed practice 43.5, multifamily residential 42.7, commercial/industrial 39.5, institutional 37.0
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