Architectural billings continue to contract in 2023

{"version":"0.3.0","atoms":[],"cards":[],"markups":[["strong"],["b"],["i"],["a",["href","https:\/\/www.aia.org\/resources\/10046-architecture-billings-index-abi"]]],"sections":[[1,"p",[[0,[0],1,"WASHINGTON - February 22, 2023 \u2013"],[0,[],0," Fewer\narchitecture firms report declining billings in January compared to billing\nactivity in December, according to a new report today from The American\nInstitute of Architects (AIA)."]]],[1,"p",[[0,[],0,"AIA\u2019s Architecture Billings Index (ABI) score for January was 49.3*\ncompared to 48.4 in December (any score below 50 indicates a\ndecline in firm billings). Last\nmonth\u2019s score indicates overall revenue at U.S architecture firms continued\nto decline from December to January, however, the pace of decline slowed. Inquiries\ninto new projects during January grew, with a score of 55.2 compared to 52.6 in\nDecember. The value of new design contracts also reflected an easing in the\npace of decline, rising to a score of 53.4 in January from 50.0 the previous\nmonth."]]],[1,"p",[[0,[],0,"\u201cWhile the downturn in\ndesign activity extended to four months in January, there are signs of easing,\u201d\nsaid AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. \u201cIn particular,\narchitecture firms reported that new project work has begun to increase,\nsignifying that this decline in billings may reverse in the coming months.\u201d"]]],[1,"p",[[0,[1],1,"Key ABI\nhighlights for January include:"]]],[3,"ul",[[[0,[],0,"Regional averages: Midwest (51.6); West (51.3);\nNortheast (50.9); South (46.9)"]],[[0,[],0,"Sector index breakdown: mixed practice (56.0); institutional\n(48.6); commercial\/industrial (46.8); multi-family residential (45.9)"]]]],[1,"p",[[0,[2],1,"The regional and\nsector categories are calculated as three-month moving averages and may not\nalways average out to the national score."]]],[1,"p",[[0,[],0,"\n"],[0,[2],1,"*Every January the AIA research\ndepartment updates the seasonal factors used to calculate the ABI, resulting in\na revision of recent ABI values."],[0,[],0," "]]],[1,"p",[[0,[],0,"Visit "],[0,[3],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."]]]]}