Report: 2023 Ends with Continued Weak Business Conditions for Architecture Firms
The AIA/Deltek Architecture Billings Index (ABI) remained below 50 for December, indicating soft business conditions to close out 2023. The score of 45.4 remained essentially flat from November. Any score below 50.0 indicates decreasing business conditions but there are encouraging signs of the pipeline.
“Billings at firms declined for eight months of the year, and the last four months saw this overall weakness accelerate,” said Kermit Baker, PhD, AIA Chief Economist. " Fortunately, project backlogs at firms eased only slightly through the year despite the overall reported softness in billings.”