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
| Nov 2, 2011
Mega deals drive 28% increase in global engineering and construction merger and acquisition value
Financial investors lead mega deal activity, China most active country in global domestic deals.
| Nov 2, 2011
Alexandria Real Estate Equities, Inc. breaks ground on Alexandria Center in Cambridge, Mass.
307,000-sf building to be house to executive offices of Biogen Idec.
| Nov 2, 2011
CRSI’s Manual of Standard Practice now available
This resource contains information on recommended industry practices for estimating, detailing, fabricating, and placing reinforcing steel for reinforced concrete construction.
| Nov 2, 2011
John W. Baumgarten Architect, P.C, wins AIA Long Island Chapter‘s Healthcare Award for Renovation
The two-story lobby features inlaid marble floors and wood-paneled wainscoting that pays homage to the building’s history.
| Nov 2, 2011
Jacobs announces acquisition of KlingStubbins
Jacobs Engineering Group Inc. announced that it has acquired KlingStubbins. Officials did not disclose the terms of the agreement. Jacobs' acquisition of KlingStubbins, which has approximately 500 employees located in the United States and Asia, particularly enhances the Company's capabilities in design. KlingStubbins provides professional services in planning, architecture, engineering and interiors.
| Nov 1, 2011
Perkins Eastman opens office in San Francisco
Located at 23 Geary Street in the One Kearny building, the 8,100 sf office will accommodate a growing staff of 45.
| Nov 1, 2011
Sasaki expands national sports design studio
Sasaki has also added Stephen Sefton to the sports design studio as senior associate.
| Nov 1, 2011
Holcim awards winners for North America announced
A socio-architectural project to create regional food-gathering nodes and a logistics network in Canada's high arctic territory won the top prize for North America of $100,000.
| Oct 27, 2011
iProspect selects VLK Architects for new office design
Company growth prompted iProspect to make the decision to move to a new space.
