Architecture Billings Slip in July

Architecture billings growth slowed in July, according to the American Institute of Architects. The AIA Architecture Billings Index slipped to 50.7 from 51.3 in June. A score over 50 indicates billing growth, but on a regional basis only the South registered growing demand with an index reading of 55.2. Regional averages in the remainder of the country were West at 49.6, Midwest 49.3 and Northeast 48.0. Architecture billings are considered a leading indicator of construction activity and demand for steel and other construction materials.

“Billings at architecture firms in the South remained robust in July, offsetting declining billings in other regions of the country,” said AIA Chief Economist Kermit Baker. “Despite the dip in the overall ABI number in July, firms are still reporting a healthy increase in new projects.”