{"id":116915,"date":"2020-07-30T07:44:05","date_gmt":"2020-07-30T11:44:05","guid":{"rendered":"https:\/\/www.constructionspecifier.com\/?p=116915"},"modified":"2020-07-29T19:53:17","modified_gmt":"2020-07-29T23:53:17","slug":"multifamily-res-project-billings-on-upward-trend","status":"publish","type":"post","link":"https:\/\/www.constructionspecifier.com\/multifamily-res-project-billings-on-upward-trend\/","title":{"rendered":"Multifamily res. project billings on upward trend"},"content":{"rendered":"
\"The<\/a>
The American Institute of Architects\u2019 (AIA\u2019s) Architecture Billings Index (ABI) shows fewer architecture firms reported declining billings in June.<\/span>
Photo \u00a9 BigStockPhoto.com<\/span><\/em><\/figcaption><\/figure>\n

Demand for design services from architecture firms began to stabilize in June, following their peak declines in April, according to a new report from the American Institute of Architects<\/a> (AIA).<\/p>\n

AIA\u2019s Architecture Billings Index (ABI) score for June was 40 compared to 32 in May<\/a>. The May ABI score indicates a significant share of architecture firms still saw their billings decline from May to June. However, the share reporting declines slowed significantly. Index scores for new project inquiries and new design contracts also showed signs of stabilizing, posting scores of 49.3 and 44 respectively.<\/p>\n

\u201cWhile business conditions remained soft at firms across the country, those with a multifamily residential specialization saw the most positive signs,\u201d said AIA chief economist Kermit Baker, PhD, Hon. AIA. \u201cUnfortunately, 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.\u201d<\/p>\n

Key ABI figures for June include:<\/p>\n