Demand for design services decreases considerably

Submitted by on Wed, 11/16/2022 - 12:54
{"version":"0.3.0","atoms":[],"cards":[],"markups":[["strong"],["b"],["a",["href","https:\/\/\/resources\/10046-architecture-billings-index-abi"]]],"sections":[[1,"p",[[0,[0],1,"WASHINGTON \u2013 November\n16, 2022 "],[0,[],0,"\u2013 Demand for design services from architecture firms softened\nconsiderably in October, according to a new report from The American Institute\nof Architects (AIA)."]]],[1,"p",[[0,[],0,"AIA\u2019s Architecture\nBillings Index (ABI) score for October was 47.7, the first decline in billings\nsince January 2021 (any score below 50 indicates a decline in firm billings). Inquiries\ninto new projects continued to grow in October with a score of 52.3, while the\nvalue of new design contracts declined, with a score of 48.6."]]],[1,"p",[[0,[],0,"\u201cEconomic headwinds\nhave been steadily mounting, and finally led to weakening demand for new\nprojects,\u201d said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. \u201cFirm\nbacklogs are healthy and will hopefully provide healthy levels of design\nactivity against fewer new projects entering the pipeline should this weakness\npersist.\u201d "]]],[1,"p",[[0,[1],1,"Key ABI\nhighlights for October include:"]]],[3,"ul",[[[0,[],0,"Regional averages: Midwest (50.8); South (50.6);\nNortheast (50.3); West (49.6)"]],[[0,[],0,"Sector index breakdown: institutional (54.3); mixed\npractice (50.8); multi-family residential (46.1); commercial\/industrial (45.9)"]]]],[1,"p",[[0,[],0,"Since the regional and\nsector categories are calculated as three-month moving averages, while the\nnational billings index, design contracts and inquiries are reported as monthly\nnumbers, the regional and sector scores may not always average out to the\nnational score.\n\n"]]],[1,"p",[[0,[],0,"Visit "],[0,[2],1,"AIA\u2019s website "],[0,[],0,"for more ABI information."]]],[1,"p",[[0,[1],1,"About AIA"]]],[1,"p",[[0,[],0,"Founded\nin 1857, AIA consistently works to create more valuable, healthy, secure, and\nsustainable buildings, neighborhoods, and communities. Through more than 200\ninternational, state and local chapters, AIA advocates for public policies that\npromote economic vitality and public wellbeing."]]],[1,"p",[[0,[],0,"AIA provides members with tools and resources to assist them\nin their careers and business as well as engaging civic and government leaders\nand the public to find solutions to pressing issues facing our communities,\ninstitutions, nation, and world. Members adhere to a code of ethics and conduct\nto ensure the highest professional standards."]]]]}
Contact Name
Matt Tinder
Contact Email
Contact Twitter
Contact Phone
202 626 7462
AIA’s Architecture Billings Index (ABI) score for October was 47.7, the first decline in billings since January 2021.
Members Only
Tile Sizes
Use on Homepage
SEO Keywords
Billings, ABI, Architects Billings, Architecture Billings, Index, economic
Temp Draft
[{"updated-date":"2022-11-16T12:54:54+00:00","author-name":"Matthew Tinder","author-id":"86b1aa47-3f15-4161-b31f-6839ec974a24","action":"published"}]
Suppress Tile Description
Ready to Publish
Hide Ads
Hero Text Properties