AIA/Deltek Architecture Billings Index Reflects Continued Weakness in Business Conditions in April

{"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 May 24, 2023 \u2013 Architecture\nfirms reported a modest decrease in April billings. However, there was a slight\nincrease in inquiries into future project activity according to a report released\ntoday from The American Institute of Architects (AIA). "]]],[1,"p",[[0,[],0,"The\nbillings score for March decreased from 50.4 in March to 48.5 in April (any\nscore below 50 indicates a decrease in firm billings). However, firms reported\nthat inquiries into new projects accelerated slightly to 53.9, while most firms\ncontinued to report a decline in the value of new design contracts, with a\nscore of 49.8. "]]],[1,"p",[[0,[],0,"\u201cThe\nongoing weakness in design activity at architecture firms reflects clients\u2019\nconcerns regarding the economic outlook,\u201d said AIA Chief Economist "],[0,[0],1,"Kermit\nBaker"],[0,[],0," Hon. AIA, Ph.D. \u201cHigh construction costs, extended project schedules,\nelevated interest rates, and growing difficulty in obtaining financing are all\nweighing on the construction market.\u201d"]]],[1,"p",[[0,[],0,"Despite\nthe recent softness in billings, many firms are cautiously optimistic about\nthis year. As the construction market cools, construction costs and schedules are\nexpected to ease, which may make some projects more feasible. In addition,\nfirms will continue to be able to capitalize on opportunities related to green\nbuilding and energy efficiency initiatives that have increased over the past\nfew years."]]],[1,"p",[[0,[0],1,"Key\nABI highlights for April include:"]]],[3,"ul",[[[0,[],0,"Regional\naverages: Midwest (51.2); West (49.3); South (48.7); Northeast (47.2)"]],[[0,[],0,"Sector index\nbreakdown: mixed practice (firms that do not have at least half of their\nbillings in any one other category) (52.1); commercial\/industrial (51.8); institutional\n(50.6); multi-family residential (41.5)"]],[[0,[],0,"Project\ninquiries index: 53.9"]],[[0,[],0,"Design\ncontracts index: 49.8"]]]],[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,"h3",[[0,[0],1,"About\nAIA"]]],[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 wellbeing."]]],[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,"h3",[[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."]]]]}