For the eighteenth consecutive month architecture firms reported increasing demand for design services in July, according to a new report today from The American Institute of Architects (AIA).
The AIA Architecture Billings Index (ABI) score for July was 51.0. While this score is down from June’s score of 53.2, it still indicates stable business conditions for architecture firms (any score above 50 indicates an increase in billings from the prior month). Also in July, both the new project inquiries and design contracts indexes moderated from June but remained strong with scores of 56.1 and 52.9 respectively.
“Despite architecture services employment recently surpassing pre-pandemic levels, the ABI score this month reflects the slowest growth since January, and marks the fourth straight month with a lower score than the previous month, indicating a slowing trajectory in billings activity,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “With a variety of economic storm clouds continuing to gather, we are likely looking at a period of slower growth going forward.”
Key ABI highlights for July include:
- Regional averages: South (53.6); Midwest (52.2); West (51.7); Northeast (48.4)
- Sector index breakdown: multi-family residential (52.8); commercial/industrial (52.2); mixed practice (52.1); institutional (49.6)
The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.
Related Stories
Market Data | Jun 3, 2016
JLL report: Retail renovation drives construction growth in 2016
Retail construction projects were up nearly 25% year-over-year, and the industrial and office construction sectors fared well, too. Economic uncertainty looms over everything, however.
Market Data | Jun 2, 2016
ABC: Nonresidential construction spending down in April
Lower building material prices, a sluggish U.S. economy, and hesitation among private developers all factor into the 2.1% drop.
Airports | Jun 1, 2016
LaGuardia Airport’s massive redevelopment begins construction
The development consortium has secured financing for the $4 billion project, and signed an operating lease through 2050.
Building Team Awards | Jun 1, 2016
Multifamily tower and office building revitalize Philadelphia cathedral
The Philadelphia Episcopal Cathedral capitalizes on hot property to help fund much needed upgrades and programs.
Building Team Awards | Jun 1, 2016
Central utility power plant takes center stage at UC San Diego Jacobs Medical Center
An undulating roof, floor-to-ceiling glass, and façade scheme give visual appeal to a plant that serves the 10-story medical center.
Building Team Awards | May 31, 2016
Gonzaga's new student center is a bustling social hub
Retail mall features, comfortable furniture, and floor-to-ceiling glass add vibrancy to the new John J. Hemmingson Center.
Building Team Awards | May 27, 2016
Big police academy trains thousands of New York's finest
The Police Training Academy in Queens, N.Y., consists of a 480,000-sf academic/administration building and a 240,000-sf physical training facility, linked by an aerial pedestrian bridge.
Building Team Awards | May 26, 2016
Cimpress office complex built during historically brutal Massachusetts winter
Lean construction techniques were used to build 275 Wyman Street during a winter that brought more than 100 inches of snow to suburban Boston.
Building Team Awards | May 25, 2016
New health center campus provides affordable care for thousands of Northern Californians
The 38,000-sf, two-level John & Susan Sobrato Campus in Palo Alto is expected to serve 25,000 patients a year by the end of the decade.
Building Team Awards | May 24, 2016
Los Angeles bus depot squeezes the most from a tight site
The Building Team for the MTA Division 13 Bus Operations and Maintenance Facility fit 12 acres’ worth of programming in a multi-level structure on a 4.8-acre site.