Architecture billings continue to decline

{"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],1,"WASHINGTON \u2013 January\n25, 2023 "],[0,[],0,"\u2013 Demand for design services from U.S. architecture\nfirms continued to contract in December, according to a new report from the\nAmerican Institute of Architects (AIA)."]]],[1,"p",[[0,[],0,"The pace of decline\nduring December slowed from November, posting an Architecture Billings Index\n(ABI) score of 47.5 from 46.6 (any score below 50 indicates a decline in firm\nbillings). Inquiries into new projects posted a positive score of 52.3, however\nnew design contracts remained in negative territory with a score of 49.4."]]],[1,"p",[[0,[],0,"\u201cDespite strong\nrevenue growth last year, architecture firms have modest expectations regarding\nbusiness conditions this coming year,\u201d said AIA Chief Economist Kermit Baker,\nPhD, Hon. AIA. \u201cWith ABI scores for the entire fourth quarter of 2022 in negative\nterritory, a slowdown in construction activity is expected later this year,\nthough the depth of the downturn remains unclear.\u201d "]]],[1,"p",[[0,[1],1,"Key ABI\nhighlights for December include:"]]],[3,"ul",[[[0,[],0,"Regional averages: Midwest (49.4); South (48.6); Northeast\n(46.5); West (45.5)"]],[[0,[],0,"Sector index breakdown: mixed practice (54.8); institutional\n(47.3); commercial\/industrial (45.2); multi-family residential (44.3)"]]]],[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 information."]]],[1,"p",[]],[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."]]]]}