AIA ABI Index June 2020: Business conditions at architecture firms begin to stabilize, fewer firms report declining billings this month
- The AIA Architectural Billings Index for June 2020: 40.0
- That compares to 32.0 previously reported for May 2020.
38% of firms predict a decrease in architecture staff at their firm by the end of the year, while 17% expect an increase
This month, Work-on-the-Boards participants are saying:
· “There are still inquiries for projects, but there is increasing competition for work. Inquiries for projects over $5 million have decreased dramatically.”—25-person firm in the Midwest, commercial/industrial specialization
· “Public K-12 education is about the only market area with projects continuing. The pricing from contractors has been very competitive and below estimates.”—100-person firm in the Midwest, institutional specialization
· “Getting better in the Boston area–most projects that went on hold due to COVID-19 have restarted. New work inquiries are up as well.”—48-person firm in the Northeast, residential specialization
· “More COVID-19 cases in our area, so attitudes are changing to believe this will last much longer than originally expected. Clients are being very conservative moving forward.”—65-person firm in the South, mixed specialization
I encourage everyone to read the full report; here’s the link:
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