The American Institute of Architects (AIA) recently released the AIA/Deltek Architecture Billings Index® (ABI) for June; the score at 47.3 is a three-point increase from May.
While the reading increased, a metric below 50 indicates an equal share of firms reporting decreases and increases.
The South continues its reign as the strongest market with a reading at 49.5, despite a 0.01% decrease from May. The West trails at 45.6 with the Midwest close behind at 45.1. The Northeast dropped from 46.2 in May to 44.9 reading in June.
“Architecture firms remain mired in one of the longest running downturns in the 30-plus year history of the ABI, which now stretches to 41 months without a majority of firms reporting billings growth,” said AIA Chief Economist, Richard Branch. “The uncertainty over the conflict in Iran along with high interest rates and significant labor shortages will continue to weigh on construction – and architect billings over the next several months.”
