The AIA released new data today showing that the Architecture Billings Index (ABI) remained at 40 in August, unchanged from June and July. (A score below 50 indicates decreasing billings). New design inquiries fared slightly better for the first time since February, increasing from 49.1 to 51.6, and the value of new design contracts moved from 41.7 to 46.
“Unfortunately, since the start of the COVID-19 pandemic, many architecture firms are finding fewer inquiries that convert to billable projects,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “While fewer firms reported declining billings in August than during the early months of the COVID-19 pandemic, the fact that the score has been unchanged for the last three months shows that the recovery from this downturn is not progressing at the pace we had hoped to see.”
Explore ABI scores from the past year in the interactive graph below.