Architecture billings continue to decline

Architecture billings continue to decline
Photo source
pxhere.com

Date: 27 January 2023

Demand for design services from U.S. architecture firms continued to contract in December, according to a new report from the American Institute of Architects (AIA).

The pace of decline during December slowed from November, posting an Architecture Billings Index (ABI) score of 47.5 from 46.6 (any score below 50 indicates a decline in firm billings). Inquiries into new projects posted a positive score of 52.3, however new design contracts remained in negative territory with a score of 49.4.

“Despite strong revenue growth last year, architecture firms have modest expectations regarding business conditions this coming year,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “With ABI scores for the entire fourth quarter of 2022 in negative territory, a slowdown in construction activity is expected later this year, though the depth of the downturn remains unclear.”

Key ABI highlights for December include:

  • Regional averages: Midwest (49.4); South (48.6); Northeast (46.5); West (45.5)
  • Sector index breakdown: mixed practice (54.8); institutional (47.3); commercial/industrial (45.2); multi-family residential (44.3)

The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.

Visit AIA’s website for more ABI information.

600450 Architecture billings continue to decline glassonweb.com

See more news about:

Others also read

Despite staffing challenges, few firms report outsourcing domestic design work offshore
Glaston communicated in its half-year financial report on 1 August 2023, that during the first half of 2023, signs of increasing market uncertainty and more cautious customer behavior were visible.
Shanghai NorthGlass Office Building External Wall Upgrade
Four in 10 firm leaders currently consider their firms to be understaffed
Exhibitors from 25 countries including 4 country pavilions, namely China, Türkiye, Egypt, and Austria to showcase cutting-edge products & services covering the full construction cycle.
Architect Gensler found the perfect balance of clarity and energy efficiency in Solarban® 60 Starphire® glass by Vitro Architectural Glass.

Add new comment

From industry

Via Del Lavoro Snc
64023 Mosciano Sant’Angelo TE
Italy

Am Pfahlgraben 4
35415 Pohlheim
Germany

NEWS RELATED PRODUCTS