AIA/Deltek Architecture Billings Index Stable in June

{"version":"0.3.0","atoms":[],"cards":[],"markups":[["b"],["i"],["a",["href","https:\/\/www.aia.org\/resources\/10046-architecture-billings-index-abi"]],["a",["href","https:\/\/www.deltek.com\/en\/architecture-and-engineering"]]],"sections":[[1,"p",[[0,[],0,"WASHINGTON \u2013 July 19, 2023 \u2013 Architecture firms reported flat billings\nin June, according to the latest Architecture Billings Index (ABI) from the\nAmerican Institute of Architects (AIA) and Deltek. "]]],[1,"p",[[0,[],0,"The\nABI score of 50.1 for the month indicates that billings at architecture firms\nremained steady as design activity continues to slowly recover from roiled\neconomic conditions. This also marks the first time since last fall that there\nhave been two consecutive months of scores above 50, although growth in June\nwas weaker than May (any score above 50 indicates an increase in firm billings).\n"]]],[1,"p",[[0,[],0,"\u201cIt\nis encouraging to see two consecutive months of stability in billings after a\ncouple quarters of weakness due to high inflation, rising interest rates, and\nincreased construction costs,\u201d said AIA Chief Economist "],[0,[0],1,"Kermit Baker"],[0,[],0,",\nPhD, Hon. AIA. \u201cWe are still facing some headwinds in the broader economy, but\nthis respite suggests that market conditions may be finding firmer ground.\u201d "]]],[1,"p",[[0,[],0,"Firms\nlocated in the Midwest continue to report the strongest billings for the eighth\nconsecutive month, while firms in nearly all regions of the country also\nreported improving business conditions in June. Firms also reported that\ninquiries into new projects fell slightly from 57.2 to 56.7 the previous month.\nFurther, the value of new design contracts edged up to 52.7 in June from 52.3\nin May."]]],[1,"p",[[0,[],0,"Firm\nbacklogs have decreased from their record-high levels in 2022 but remain robust\nat an average of 6.8 months. "]]],[1,"p",[[0,[],0,"The\nAIA\/Deltek ABI is a leading economic indicator derived from a monthly survey\nsent to AIA member-owned firms which measures demand for design services by\narchitecture firms throughout U.S., providing insight into current and future\nconstruction activity across various sectors including\ncommercial\/industrial\/institutional buildings and residential projects such as single-family\nhousing and multifamily units. "]]],[1,"p",[[0,[0],1,"Key\nABI highlights for June include:"]]],[1,"p",[[0,[],0,"\u00b7 \nRegional\naverages: Midwest (52.4); Northeast (50.6); South (50.5); West (48.6)"]]],[1,"p",[[0,[],0,"\u00b7 Sector index\nbreakdown: institutional (55.4); mixed practice (firms that do not have at\nleast half of their billings in any one other category) (48.8); commercial\/industrial\n(47.8); multi-family residential (47.4)"]]],[1,"p",[[0,[],0,"\u00b7 Project\ninquiries index: 56.7"]]],[1,"p",[[0,[],0,"\u00b7 Design\ncontracts index: 52.7"]]],[1,"p",[[0,[1],1,"The regional and sector categories\nare calculated as three-month moving averages and may not always average out to\nthe national score."]]],[1,"p",[[0,[],0,"Visit "],[0,[2],1,"AIA\u2019s website"],[0,[],0," for detailed information about this, and\npast billing index reports."]]],[1,"p",[[0,[0],1,"About AIA"]]],[1,"p",[[0,[],0,"Founded in 1857, AIA consistently works\nto create more valuable, healthy, secure, and sustainable buildings,\nneighborhoods, and communities. Through more than 200 international, state, and\nlocal chapters, AIA advocates for public policies that promote economic\nvitality and public well-being."]]],[1,"p",[[0,[],0,"AIA\nprovides members with tools and resources to assist them in their careers and\nbusiness as well as engaging civic and government leaders and the public to\nfind solutions to pressing issues facing our communities, institutions, nation,\nand world. Members adhere to a code of ethics and conduct to ensure the highest\nprofessional standards."]]],[1,"p",[[0,[0],1,"About\nDeltek"]]],[1,"p",[[0,[],0,"Better\nsoftware means better projects. Deltek is the leading global provider of\nenterprise software and information solutions for project-based businesses and\nthe home of AIA MasterSpec\u00ae. More than 30,000 organizations, including 12,000\nArchitecture \u0026 Engineering firms, rely on Deltek for superior levels of\nproject intelligence, management, and collaboration. Our industry-focused\nexpertise powers project success for A\u0026E firms of all sizes by helping them\nachieve performance that maximizes productivity and revenue. "],[0,[3],1,"Learn more at Deltek."]]]]}