Architecture Firm Billings Soften Further in March According to AIA/Deltek ABI
The AIA/Deltek Architecture Billings Index (ABI) reported a score of 43.6 for the month of March, indicating business conditions continue to soften for architecture firms. This marks the 14th consecutive month of declining billings at firms as inflation, supply chain issues and other economic challenges continue to affect business.
“Elevated construction costs coupled with prolonged high interest rates continue to discourage new project activity,” said Kermit Baker, PhD, AIA Chief Economist. However, institutional design work seems to have stabilized, providing a solid base for the profession as it awaits a more positive economic environment for construction.