Architecture firm billings continued to decline in February, with AIA/Deltek reporting an Architecture Billings Index (ABI) score of 49.5 (any score below 50.0 indicates decreasing business conditions). However, February’s score—up significantly from the previous month's of 46.2—marks the most modest easing in billings since July 2023 and suggests that the recent slowdown may be receding. For the third consecutive month, the Midwest is the only region reporting billings growth.

“There are indicators this month that business conditions at firms may finally begin to pick up in the coming months. Inquiries into new projects grew at their fastest pace since November, and the value of newly signed design contracts increased at their fastest pace since last summer,” said AIA chief economist Kermit Baker. "Given the moderation of inflation for construction costs and prospects for lower interest rates in the coming months, there are positive signs for future growth.”