Architecture firm billings remained soft entering into 2024, with an AIA/Deltek Architecture Billings Index (ABI) score of 46.2 in January. Any score below 50.0 indicates decreasing business conditions.
“This now marks the lengthiest period of declining billings since 2010, although it is reassuring that the pace of this decline is less rapid and the broader economy showed improvement in January,” said Kermit Baker, PhD, AIA Chief Economist. "Firms are seeing growth with inquiries into new projects and value of newly signed design contracts is holding steady, showing potential signs of interest from clients in new projects.”
Business conditions remained weak at firms in all regions of the country except the Midwest, where modest growth was seen in three of the last four months. Firms with a multifamily residential specialization continue to report the softest business conditions of all specializations.
The ABI score is a leading economic indicator of construction activity, providing an approximately nine-to-twelve-month glimpse into the future of nonresidential construction spending activity. The score is derived from a monthly survey of architecture firms that measures the change in the number of services provided to clients.
Key ABI highlights for January include:
- Regional averages: Northeast (43.6); Midwest (50.9); South (45.2); West (46.6)
- Sector index breakdown: commercial/industrial (47.0); institutional (48.5); mixed practice (firms that do not have at least half of their billings in any one other category) (42.9); multifamily residential (44.6)
- Project inquiries index: 53.8
- Design contracts index: 49.7
Note: The regional and sector categories are calculated as three-month moving averages and may not always average out to the national score. Every January the AIA research department updates the seasonal factors used to calculate the ABI, resulting in a revision of recent ABI values.
Related Stories
| May 30, 2012
Boral Bricks announces winners of “Live.Work.Learn” student architecture contest
Eun Grace Ko, a student at the Ryerson University in Toronto, Canada, named winner of annual contest.
| May 30, 2012
Hill International to manage construction of Al Risafa Stadium in Iraq
The three-year contract has an estimated value to Hill of approximately $3.3 million.
| May 29, 2012
Torrance Memorial Medical Center’s pediatric burn patients create their version of new Patient Tower using Legos
McCarthy workers joined the patients, donning construction gear and hard hats, to help with their building efforts.
| May 29, 2012
Reconstruction Awards Entry Information
Download a PDF of the Entry Information at the bottom of this page.
| May 29, 2012
AIA expands Documents-On-Demand service??
Six new documents added, DOD offers nearly 100 contract documents.
| May 29, 2012
Legrand achieves over 20% energy-intensity reduction in Presidential Challenge
West Hartford headquarters announced as Better Buildings, Better Plants “Showcase” site.
| May 29, 2012
Thornton Tomasetti/Fore Solutions provides consulting for Phase I of Acadia Gateway Center
Project receives LEED Gold certification.
| May 24, 2012
2012 Reconstruction Awards Entry Form
Download a PDF of the Entry Form at the bottom of this page.
| May 24, 2012
Gilbane’s Spring 2012 economic report identifies multiple positive economic and market factors
Anticipating increasing escalation in owner costs through 2014.
