The latest data from the American Institute of Architects show that the Architecture Billings Index moved to 46.3 in November, down slightly from 47.5 in October. (A score below 50 indicates decreasing billings.) New design contracts softened to 52 from 59.1 in the prior month, and inquiries dropped to 48.6 from 51.7.
“In previous design cycles, we typically haven’t seen a straight line back to growth after a downturn hits,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “The path to recovery is shaping up to be bumpier than we hoped for. While there are pockets of optimism in design services demand, the overall construction landscape remains depressed.”
Explore ABI scores from the past year in the interactive graph below.