AIA Billings Index Indicates COVID-19's Serious Impacts on Firms' Businesses
Billings at architecture firms plummeted in March as the Architecture Billings Index (ABI) fell by 20.1 points to a score of 33.3 for the month (a score over 50 indicates increasing billings, a score below 50 indicates declining billings). This is by far the largest single month decline the index has seen in its nearly 25-year history, far surpassing the declines of 9.4 points seen at the start of the 2001 recession and 8.3 points seen at the start of the Great Recession.