Cratering economy registers historic drop in Architecture Billings Index
The latest Architecture Billings Index (ABI) report published by the American Institute of Architects (AIA) shows that business for the architecture industry has taken a precipitous drop in the weeks since the COVID-19 crisis began to take hold in the United States. While February’s ABI numbers showed a positive trajectory and a preliminary March report hinted at the growing severity of the nation’s economic collapse, March’s official tally, which still only really captures the first few weeks of the crisis, shows a drastic contraction in the demand for architectural services. The index is scored between 0 and 100, with a score of 50 registering no change in demand for architectural services; Anything above 50 indicates a growth in billings while and anything below shows a drop in demand for design services. Previously on Archinect: “Architecture Firm Owners Share Their PPP Woes.“ The Marriner S. Eccles Federal Reserve Board Building March ABI highlights Architecture Billings Ind...
The latest Architecture Billings Index (ABI) report published by the American Institute of Architects (AIA) shows that business for the architecture industry has taken a precipitous drop in the weeks since the COVID-19 crisis began to take hold in the United States.
While February’s ABI numbers showed a positive trajectory and a preliminary March report hinted at the growing severity of the nation’s economic collapse, March’s official tally, which still only really captures the first few weeks of the crisis, shows a drastic contraction in the demand for architectural services.
The index is scored between 0 and 100, with a score of 50 registering no change in demand for architectural services; Anything above 50 indicates a growth in billings while and anything below shows a drop in demand for design services.
- Architecture Billings Ind...
