Demand for design services continues to slow

{"version":"0.3.0","atoms":[],"cards":[],"markups":[["strong"],["b"],["a",["href","https:\/\/www.aia.org\/resources\/10046-architecture-billings-index-abi"]]],"sections":[[1,"p",[[0,[],0,"\n \n \n \n"]]],[1,"p",[[0,[0],1,"WASHINGTON \u2013 Dec. 14,\n2022 \u2013 "],[0,[],0,"Demand for design services from architecture firms\ncontinued to decrease in November, according to a new report from The American\nInstitute of Architects (AIA)."]]],[1,"p",[[0,[],0,"The pace of decline\nduring November accelerated from October, posting an Architecture Billings\nIndex (ABI) score of 46.6 from 47.7 (any score below 50 indicates a decline in\nfirm billings). The pace of inquiries into new projects slowed, but remained\npositive with a score of 52.0, however new design contracts remained in\nnegative territory with a score of 46.9."]]],[1,"p",[[0,[],0,"\u201cGiven the slowdown in\nnew project work, many architecture firms will rely on their near record levels\nof backlogs to support revenue,\u201d said AIA Chief Economist, Kermit Baker, Hon.\nAIA, PhD. \u201cStill, firm leaders remain largely optimistic about future business trends.\nAlmost two-thirds of architecture firms project that 2023 will be either a good\nyear or great year for their firm.\u201d "]]],[1,"p",[[0,[1],1,"Key ABI\nhighlights for November include:"]]],[3,"ul",[[[0,[],0,"Regional averages: South (50.5); Midwest (47.6);\nWest (45.8); Northeast (42.4)"]],[[0,[],0,"Sector index breakdown: mixed practice (51.5); institutional\n(47.7); multi-family residential (46.1); commercial\/industrial (44.2)"]]]],[1,"p",[[0,[],0,"The regional and\nsector categories are calculated as a three-month moving average, whereas the\nnational index, design contracts and inquiries are monthly numbers."]]],[1,"p",[[0,[],0,"Visit "],[0,[2],1,"AIA\u2019s website "],[0,[],0,"for more ABI\ninformation."]]],[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."]]]]}