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
Multifamily Housing | Jun 13, 2018
Multifamily visionaries: KTGY’s extraordinary expectations
KTGY Architecture + Planning keeps pushing the boundaries of multifamily housing design in the U.S., Asia, and the Middle East.
| Jun 11, 2018
Accelerate Live! talk: Regenerative design — When sustainability is not enough
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), HMC’s Eric Carbonnier poses the question: What if buildings could actually rejuvenate ecosystems?
| Jun 11, 2018
Accelerate Live! talk: The smart jobsite — Predictive visual data analytics for proactive project controls
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), a trio of experts in predictive visual data analytics presents how design-build giant Clayco has leveraged this technology to achieve production efficiency on several construction sites.
| Jun 11, 2018
Accelerate Live! talk: Design innovation at Adrian Smith + Gordon Gill Architecture
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), AS+GG’s Anthony Viola takes us behind the magic curtain to illuminate the firm’s methods for nurturing design innovation.
| Jun 11, 2018
Accelerate Live! talk: ‘AEC can has Blockchains?’
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), HOK’s Greg Schleusner explores how the AEC industry could adapt the best ideas from other industries (banking, manufacturing, tech) to modernize inefficient design and construction processes.
| Jun 11, 2018
Accelerate Live! talk: How advanced digital fabrication techniques are driving design innovation
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), SOM’s Lucas Tryggestad and Kyle Vansice present the firm’s 3D-printed building project and explore how digital fabrication is pushing design innovation.
| Jun 11, 2018
Accelerate Live! talk: AEC + Data + AI — Poison for some, elixir for others
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), predictive analytics expert David Morgareidge offers steps that AE firms can take today if they want to survive AECO digital transformation.
Education Facilities | Jun 8, 2018
Data is driving design for education
In gathering this constant flow of data and recognizing the shifting trends, how can educational institutions make informed choices and smart design decisions that lead to higher efficiency and improved control over capital budgets?
Architects | Jun 6, 2018
Chief of Staff of the Army honors SmithGroupJJR’s Philip Tobey with Outstanding Civilian Service Award
Tobey began his career as a captain and military architect at Headquarters, U.S. Air Force Office of the Surgeon General, with review responsibility for medical projects worldwide.
Architects | Jun 6, 2018
A modest boost in licensed architects in 2017
NCARB’s annual survey shows California and New York leading the pack.
