Architecture firms in the United States are facing a decline in billings, according to the AIA/Deltek Architecture Billings Index (ABI). The index revealed a score of 43.6 for March, indicating that business conditions have continued to soften for the past 14 months.
The decline in billings is attributed to a combination of factors such as inflation, supply chain disruptions, and other economic obstacles. Despite this, Kermit Baker, chief economist at the American Institute of Architects (AIA), stated that institutional design work has shown signs of stabilization. This provides a stable foundation for the profession while waiting for more favorable economic conditions for construction to improve.
The decline in billings was observed across all regions of the United States, with the Midwest and South experiencing the weakest business conditions in March. Firms specializing in different areas also reported a decrease in billings, with those focusing on commercial and industrial projects experiencing a sharper decline.
For a visual representation of recent ABI scores, you can refer to the interactive graph below: [INSERT IMAGE].
