AIA Billings Index Falls

27 July 2010 (Last Updated July 27th, 2010 18:30)

The American Institute of Architects (AIA) billing index reveals a fall in demand for architectural services in the US, despite seeing a slight improvement in June. The index was at 46.0 in June, up from 45.8 in May when it fell after three months of improvement. The rise h

The American Institute of Architects (AIA) billing index reveals a fall in demand for architectural services in the US, despite seeing a slight improvement in June.

The index was at 46.0 in June, up from 45.8 in May when it fell after three months of improvement.

The rise has been termed negligible by the AIA, however, AIA member practices reported significant growth in enquiries for new projects with index-measured enquiries rising from 55.5 to 57.7.

AIA chief economist Kermit Baker said the steep decline in non-residential property values had slowed investment in new facilities.

"Conditions at architecture firms continue to remain very soft, but we're optimistic that they will improve before the end of the year," he said.