ABI Reports Continued, but Slowing, Decline in Business Conditions at Architecture Firms
Data courtesy American Institute of Architects
Architecture firm billings remained soft in January, with the American Institute of Architects/Deltek reporting an Architecture Billings Index (ABI) score of 46.2 (any score below 50.0 indicates decreasing business conditions). This is the ninth consecutive month of decreasing business conditions at architecture firms, the lengthiest period of declining billings since 2010, however this month's score indicates that the pace of decline is slowing.
“It is reassuring that the pace of this decline is less rapid and the broader economy showed improvement in January,” said AIA chief economist Kermit Baker. "Firms are seeing growth with inquiries into new projects and value of newly signed design contracts is holding steady, showing potential signs of interest from clients in new projects.”
Business conditions remained weak at firms in all regions of the country except the Midwest, which saw modest growth in three of the last four months. Firms with a multifamily residential specialization continue to report the softest business conditions of all specializations.
Compare recent ABI scores with the interactive graph below.
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