In May, AIA/Deltek reported an Architecture Billings Index (ABI) score of 42.4 (any score below 50.0 indicates decreasing business conditions), a sharp decline from the previous month's score of 48.3. The volume of new work coming into firms is also decreasing. Inquiries into new projects continue to rise, but at a slower pace than in recent months.

“The decline in the May ABI score continues a year and a half of weakness in design billings at U.S. architecture firms. However, firms only reported modest declines over the first half of this period,” said AIA chief economist Kermit Baker. "Over the past nine months, volatility has increased, and scores have softened more significantly, with the May score the weakest reported since the end of the pandemic recession.”