ABI Still in Contraction But Stabilizing in June

Demand for design services by architectural firms showed signs of stabilizing in June. The Architecture Billings Index rose 8.0 points to post a score of 40.0. A score of 50 is the neutral point between contraction and expansion.

“While business conditions remained soft at firms across the country, those with a multifamily residential specialization saw the most positive signs,” said American Institute of Architects Chief Economist Kermit Baker. “Unfortunately, conditions at firms with a commercial/industrial specialization are likely to remain weak for an extended period of time, until hospitality, office and retail facilities can fully reopen and design demand for this space begins to increase.”