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 firms in all regions of the country except the Midwest, where modest … Read more