AIA/Deltek Architecture Billings Index Indicates Rebound in May Business Conditions

{"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 June 21, 2023 \u2013 Architecture firms experienced a rebound\nin billings in May after a downturn in April, according to the latest\nArchitecture Billings Index (ABI) from the American Institute of Architects\n(AIA) and Deltek. The index score for May was the highest it has been since\nSeptember 2022. Inquiries into new projects and design contracts also increased\nthis month, reaching their highest levels since February. "]]],[1,"p",[[0,[],0,"The\nbillings score for April increased from 48.5 in April to 51.0 in May (any score\nabove 50 indicates an increase in firm billings). Firms also reported that inquiries\ninto new projects accelerated to 57.2 from 53.9 the previous month. Further,\nthe value of new design contracts also moved up to 52.3 in May from 49.8 in\nApril."]]],[1,"p",[[0,[],0,"\u201cThe\nmodest improvement in overall demand for architectural services that we saw\nlast month is encouraging news\u0022, said AIA Chief Economist "],[0,[0],1,"Kermit Baker"],[0,[],0,"\nHon. AIA, Ph.D., \u201cHowever, there continues to be variation in the performance of\nfirms by regional location and building specialization. This suggests that overall\nbusiness conditions for the profession likely will continue to be variable.\u0022\n"]]],[1,"p",[[0,[],0,"Despite\ngrowth in the overall ABI this month, business conditions remain variable in\ndifferent regions of the country. Billings improved at firms located in the\nSouth for the second consecutive month in May, while they were essentially flat\nat firms located in the Midwest, following six months of growth. However,\nbillings continued to decline at firms located in both the West and Northeast,\nwhere scores have been below 50 since last fall."]]],[1,"p",[[0,[],0,"By\nfirm specialization, business conditions softened further at firms with a\nmultifamily residential specialization in May, falling to the lowest level in\ntwo years. Billings also declined for the ninth consecutive month at firms with\na commercial\/industrial specialization. On the other hand, business conditions\nimproved for the second month in a row at firms with an institutional\nspecialization, as they reported their strongest growth since last year. "]]],[1,"p",[[0,[0],1,"Key\nABI highlights for May include:"]]],[3,"ul",[[[0,[],0,"Regional\naverages: South (52.3); Midwest (49.6); Northeast (48.7); West (47.7)"]],[[0,[],0,"Sector index\nbreakdown: institutional (53.4); mixed practice (firms that do not have at\nleast half of their billings in any one other category) (52.7); commercial\/industrial\n(47.5); multi-family residential (43.0)"]],[[0,[],0,"Project\ninquiries index: 57.2"]],[[0,[],0,"Design\ncontracts index: 52.3"]]]],[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,"p",[[0,[0],1,"About AIA"]]],[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 well-being."]]],[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,"p",[[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."]]]]}