The AIA/Deltek Architecture Billings Index (ABI) reported a continued decline in architectural firm billings in June, with the index falling to 46.8 from 47.2 in May. A score below 50 indicates decreasing billings, reflecting ongoing softness in the industry. While interest in new projects rose for the second consecutive month, with inquiries reaching 53.6, their highest level since last fall, this has yet to result in new signed contracts, which declined for the 16th straight month (index at 46.0).
“Business conditions were soft nationwide in June,” said Kermit Baker, PhD, AIA Chief Economist. “The South saw a modest billing increase, while other regions continued to decline.” Regional ABI scores were mixed, with the South at 50.6, followed by the Northeast (46.5), West (45.8), and Midwest (45.7).
Sector-wise, institutional firms (49.2) experienced the mildest decline, while multifamily residential firms faced the weakest conditions (43.8). Commercial/industrial (47.4) and mixed practice firms (45.5) also reported ongoing softness.
Although client interest is rising, the continued fall in signed contracts suggests firms are unlikely to see a rebound in billings until tangible project commitments increase. The ABI data underscores a cautious market still waiting for stronger momentum. 
Source: www.aia.org with additional information added by Glass Balkan
