Economy
September 23, 2020
ABI Unchanged for a Third Month
Written by Sandy Williams
The Architecture Billings Index remained stuck at a score of 40 for the third consecutive month in August, indicating a prolonged decline in billing activity at architecture firms. The new project inquiries index provided a glimmer of optimism, rising for the first time since February to a positive score of 51.5. The value of new design contracts rose as well but remained below the 50 neutral point at 46.0.
Firms that specialize in multifamily residential construction noted the first sign of growth since the pandemic began, however, the commercial industrial sector remained very weak. By sector, the indexes for August were: multi-family residential, 49.4; mixed practice, 41.9; institutional, 40.2; and commercial/industrial, 35.5.
