{"id":54269,"date":"2019-08-29T12:00:21","date_gmt":"2019-08-29T16:00:21","guid":{"rendered":"https:\/\/retrofitmagazine.com\/?p=54269"},"modified":"2019-09-09T11:39:28","modified_gmt":"2019-09-09T15:39:28","slug":"decline-in-new-design-services-suggests-volatility-will-continue","status":"publish","type":"post","link":"https:\/\/retrofitmagazine.com\/decline-in-new-design-services-suggests-volatility-will-continue\/","title":{"rendered":"Decline in New Design Services Suggests Volatility Will Continue"},"content":{"rendered":"\n

Demand for design services in July remained essentially flat in comparison to the previous month, according to a report released from the American Institute of Architects (AIA)<\/a>.

AIA\u2019s Architecture Billings Index (ABI) score of 50.1 in July showed a small increase in design services since June, which was a score of 49.1. Any score above 50 indicates an increase in billings. In July, the design contracts score dipped into negative territory for the first time in almost a year. Additionally, July billings softened in all regions except the West, and at firms of all specializations except multifamily residential.<\/p>\n\n\n\n

\u201cThe data is not the same as what we saw leading up to the last economic downturn but the continued, slowing across the board will undoubtedly impact architecture firms and the broader construction industry in the coming months,\u201d says AIA Chief Economist Kermit Baker, PhD, Hon. AIA. \u201cA growing number of architecture firms are reporting that the ongoing volatility in the trade situation, the stock market, and interest rates are causing some of their clients to proceed more cautiously on current projects.\u201d<\/p>\n\n\n\n

Key ABI highlights for July:<\/p>\n\n\n\n