Following a drop of almost a full point in June, the Architecture Billings Index fell again by more than a point in July. The American Institute of Architects (AIA) reported the July ABI score was 45.1 – the steepest decline in billings since February 2010 – after a reading of 46.3 the previous month. This score reflects a continued decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 53.7, a considerable slowdown from a reading of 58.1 in June.
Regional averages: South (46.9), West (46.6), Northeast (46.4), Midwest (44.9) Sector index breakdown: commercial / industrial (47.9), institutional (47.2), mixed practice (47.1), multi-family residential (44.7) Project inquiries index: 53.7
