Continuing Decline in Architecture Billings, AIA/Deltek Architecture Billings Index Reports

{"version":"0.3.0","atoms":[],"cards":[],"markups":[["strong"],["b"],["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],1,"WASHINGTON \u2013 November 15, 2023 \u2013 "],[0,[],0,"The AIA\/Deltek\nArchitecture Billings Index (ABI) reports that business conditions at\narchitecture firms continued to soften in October. For the third consecutive\nmonth, the ABI score was under 50, indicating that a significant share of firms\nis seeing a decline in billings. "]]],[1,"p",[[0,[],0,"\u201cThis\nreport indicates not only a decrease in billings at firms, but also a reduction\nin the number of clients exploring and committing to new projects, which could\npotentially impact future billings. The soft conditions were evident across the\nentire country as well as across all major nonresidential building sectors,\u201d said\nKermit Baker, PhD, AIA Chief Economist."]]],[1,"p",[[0,[],0,"The score of 44.3 for October dipped slightly below\nthe score of 44.8 in September. Billings\nwere universally soft across the entire country in October, with firms located\nin the West and Northeast continuing to report the softest conditions overall\nfor the second month in a row. "]]],[1,"p",[[0,[1],1,"Key\nABI highlights for October include:"]]],[3,"ul",[[[0,[],0,"Regional\naverages: Northeast (42.1); South (48.5); Midwest (48.9); West (40.0)"]],[[0,[],0,"\nSector\nindex breakdown: commercial\/industrial (43.7); institutional (49.1); mixed\npractice (firms that do not have at least half of their billings in any one\nother category) (44.0); multifamily residential (40.1)"]],[[0,[],0,"Project\ninquiries index: 48.8"]],[[0,[],0,"Design\ncontracts index: 46.5"]]]],[1,"p",[[0,[],0,"The\nABI score is a leading economic indicator of construction activity, providing\nan approximately nine-to-twelve-month glimpse into the future of nonresidential\nconstruction spending activity. The score is derived from a monthly survey of\narchitecture firms that measures the change in the billings from the previous\nmonth."]]],[1,"p",[[0,[],0,"The regional and sector categories are calculated as\nthree-month moving averages and may not always average out to the national\nscore."]]],[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,[1],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 provides members with tools and\nresources to assist them in their careers and business as well as engaging\ncivic and government leaders and the public to find solutions to pressing\nissues facing our communities, institutions, nation, and world. Members adhere\nto a code of ethics and conduct to ensure the highest professional standards."]]],[1,"p",[[0,[1],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."]]]]}