Architect Billings Hit Record Low in April, Says AIA
The ABI, an economic indicator for construction activity, hit a record low score of 29.3 in April. A score below 50 signifies declining billings. Image courtesy AIA
The Architecture Billings Index. published by the American Institute of Architects, reported a drop in April for the second consecutive month, as COVID-19 impacts took hold.
The index, a key economic indicator for construction activity, hit a record low score of 29.3, down from 33.3 in March. A score below 50 signifies declining billings.
Regionally, the northeast recorded the lowest score at 23. The south and midwest reached 31.1 and 31.2, respectively, while the west scored 38.1. By sector, commercial/industrial work showed a score of 27.8, while multi-family residential was slightly higher at 30.3, and institutional hit 36.1.
On the employment side, the construction sector decreased in April by 975,000 employees, with 206,000 from the building construction segment. Survey respondents expect the trend to continue in the coming months.
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