AIA Survey Shows Architecture Billings Slowing, But Firms Optimistic About 2023
Washington, DC – Demand for design services from architecture firms continued to decrease in November, according to a new report from The American Institute of Architects (AIA). The November Architectural Billings Index (ABI) was 46.6, down
from 47.7 in October.
In addition to the pace of decline accelerating in November (any score below 50 indicates a decline in firm billings), the pace of inquiries into new projects slowed, but remained positive with a score of 52.0. New design contracts remained in negative
territory with a score of 46.9.
“Given the slowdown in new project work, many architecture firms will rely on their near record levels of backlogs to support revenue,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Still, firm leaders remain largely optimistic
about future business trends. Almost two-thirds of architecture firms project that 2023 will be either a good year or great year for their firm.”
highlights for November include:
Regional averages: South (50.5); Midwest (47.6); West (45.8); Northeast (42.4)
Sector index breakdown: mixed practice (51.5); institutional (47.7); multi-family residential (46.1); commercial/industrial (44.2)
The regional and
sector categories are calculated as a three-month moving average, whereas the
national index, design contracts and inquiries are monthly numbers.
Visit AIA’s website for more ABI information.
About The American Institute Of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. Members adhere to a code of ethics and professional conduct to ensure the highest standards in professional practice. Embracing their responsibility to serve society, AIA members engage civic and government leaders and the public in helping find needed solutions to pressing issues facing our communities, institutions, nation and world. For more information, visit www.aia.org.