Architecture Billings Index (ABI) Slowdown Continues into February

{"version":"0.3.0","atoms":[],"cards":[],"markups":[["b"],["i"],["a",["href","https:\/\/www.aia.org\/resources\/10046-architecture-billings-index-abi"]]],"sections":[[1,"p",[[0,[],0,"WASHINGTON \u2013March 22, 2023 \u2013 More architecture\nfirms reported a decline in billings in February, indicating an extension of a recent\ndownturn in design activity according to a new report released today from The\nAmerican Institute of Architects (AIA)."]]],[1,"p",[[0,[],0,"The\nscore for February fell slightly to 48.0 (any score below 50 indicates a\ndecline in firm billings). However, inquiries into new projects continued to\nimprove, as did the value of new design contracts. Both indicators suggest that\ndesign work is expected to improve in the coming months.\u0027"]]],[1,"p",[[0,[],0,"\u201cThe\ncombination of an unsettled economy and high interest rates is causing\ninvestors and property owners to take a closer look at their plans for\nconstruction projects,\u201d said AIA Chief Economist, "],[0,[0],1,"Kermit Baker"],[0,[],0,", Hon.\nAIA, PhD. \u201cWhile this is producing delays for some projects under design,\narchitecture firms are reporting that prospects for future project work remain\ngenerally positive.\u201d"]]],[1,"p",[]],[1,"p",[[0,[0],1,"Key\nABI highlights for February include:"]]],[3,"ul",[[[0,[],0,"Regional\naverages: West (50.4); Midwest (48.8); Northeast (48.4); South (47.3)"]],[[0,[],0,"Sector index\nbreakdown: mixed practice (57.0); institutional (46.9); commercial\/industrial\n(45.8); multi-family residential (46.2)\u200b"]],[[0,[],0,"Project inquiries\nindex: 55.0"]],[[0,[],0,"Design contracts index: 51.3\n"]]]],[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, AIA reports."]]],[1,"p",[]],[1,"p",[[0,[0],1,"About AIA"],[0,[],0,"\n \n "]]],[1,"p",[[0,[],0,"Founded\n in 1857, AIA consistently works to create more valuable, healthy, secure,\n and sustainable buildings, neighborhoods, and communities. Through more\n than 200 international, state and local chapters, AIA advocates for public\n policies that promote economic vitality and public wellbeing.\n AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government\n leaders and the public to find solutions to pressing issues facing our\n communities, institutions, nation, and world. Members adhere to a code of\n ethics and conduct to ensure the highest professional standards.\n The score for February\nfell slightly to 48.0 (any score below 50 indicates a decline in firm\nbillings). However, inquiries into new projects continued to improve, as did the\nvalue of new design contracts. Both indicators suggest that design work is\nexpected to improve in the coming months."]]]]}