In November, The American Institute of Architects/Deltek Architecture Billings Index (ABI) indicated a decline in architectural billings for the fourth consecutive month. The score of 45.3 (any score below 50.0 indicates decreasing business conditions) marked a one point increase from the previous month's score of 44.3, meaning that slightly fewer firms reported a decline in billings.
“Over the past three months this pace of decline has accelerated, with firms in all specializations and in all regions of the country reporting weakening business conditions," said AIA chief economist Kermit Baker. However, with signs that credit conditions are beginning to ease, firms are reporting an uptick in inquiries for future projects.”
While firms in all regions reported a decline in billings, business conditions remained slowest at firms located in the West, where billings hit a record low for the year.