The Architectural Billings Index (ABI) for June remained in negative territory for the third month in a row. Last month AIA chief economist Kermit Baker expressed concern that the summertime doldrums might mirror a 2011 trend when the ABI lulled after an initially healthy first quarter. Now it looks as though the index is doing just that. “While not all firms are experiencing negative conditions, a large share is still coping with a sluggish and erratic marketplace,” Baker said in a statement. All of the regions of the country and all industry sectors remained in negative territory with the overall index barely budging from May’s 45.8, with June registering at 45.9 (any score below 50 reflects a decrease).
The West continued with its drawn out doldrums, slumping further from 47.6 to 44.3. The Northeast’s 48.6 slipped to 46.4, while the Midwest moved from 46.8 to 48.0, and the South went from 46.1 to 47.6.
The sector breakdown didn’t look much better. The commercial sector fell from 50.7 to 46.9, institutional went from 45.6 to 46.0, mixed practice went from 41.5 to 45.9, and multi-family residential went from 48.9 to 49.0. The constant silver lining remains the project inquiries index, which lifted up a smidge from 54.0 to 54.4.