AIA/Deltek Release Latest Architecture Billings Index

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Architecture firm billings remained soft entering into 2024, with an AIA/Deltek Architecture Billings Index score of 46.2 in January. Any score below 50 indicates decreasing business conditions. “This now marks the lengthiest period of declining billings since 2010, although it is reassuring that the pace of this decline is less rapid and the broader economy showed improvement in January,” said Kermit Baker, Ph.D., AIA Chief Economist. “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 … Read more

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AIA Releases Construction Forecast: Healthcare Construction to See Modest Gains Through 2025

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Spending on nonresidential buildings will see a modest 4% increase in 2024, after increasing by more than 20% last year according to The American Institute of Architects’ latest Consensus Construction Forecast. The pace will slow to just over 1% growth in 2025, a marked difference from the strong performance in 2023. Although construction spending in the nonresidential building sector is projected to be at a slower pace through 2025, healthcare construction spending is projected to see gains. Although modest, the sector is expected to increase 3.6% in 2024 and 3.5% in 2025. Complete details can be found at aia.org. The … Read more

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AIA Releases Latest Architecture Billings Index

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The AIA/Deltek Architecture Billings Index remained below 50 for the fourth consecutive month. The score of 45.3 increased by one point from October, indicating slightly fewer firms reporting a decline in billings. Any score below 50 indicates decreasing business conditions, but there are encouraging signs of the pipeline. Firms in all regions reported a decline in billings, with business conditions remaining softest at firms located in the West as the region’s billings hit a low for the year. Firms specializing in multi-family residential continue to remain the weakest and business conditions declined further at firms with institutional specialization, despite being … Read more

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Architecture Billings Index Slowdown Continues

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More architecture firms reported a decline in billings in February, indicating an extension of a recent downturn in design activity according to a new report released from The American Institute of Architects. The score for February fell slightly to 48 (any score below 50 indicates a decline in firm billings). However, inquiries into new projects continued to improve, as did the value of new design contracts. Both indicators suggest that design work is expected to improve in the coming months. Key ABI highlights for February include: Regional averages: West (50.4); Midwest (48.8); Northeast (48.4); South (47.3) Sector index breakdown: mixed … Read more

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