High construction costs and interest rates have negatively impacted design activity, reflecting fears of economic downturn; design inquiries, however, show an upward trend.
Both the billing index and design contracts continued to slide, while inquiries into new projects rose modestly in November, indicating firms seeing less current and new work but remaining positive.
While billings in the Northeast and in the institutional sector continue to peak, residential and commerical sectors have begun to falter for the first time since recovery post-pandemic.