Billings index rises for fifth consecutive month
The US billings index has risen for the fifth month in a row, suggesting demand for design services is growing sustainably, the American Institute of Architects has said.
The score for June was 54.2, up from 53.0 in May. Anything above 50 indicates an increase. But the new projects inquiry index was 58.6, down from a reading of 62.4 the previous month.
AIA chief economist Kermit Baker said: “So far this year, new activity coming into architecture firms has generally exceeded their ability to complete ongoing projects. Now, firms seem to be ramping up enough to manage these growing workloads.”
All four regions across the US – South, West, Midwest and Northeast – returned scores above the 50 mark.