Architecture Billings Index Drops for Fifth Straight Month in July
Following a drop of almost a full point in June, the Architecture Billings Index (ABI) fell again by more than a point in July. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag time between architecture billings and construction spending.
The American Institute of Architects reported the July ABI score was 45.1—the steepest decline in billings since February 2010— after a reading of 46.3 the previous month. This score reflects a continued decrease in demand for design services (any score above 50 indicates an increase in billings).