In December, the AIA/Deltek Architecture Billings Index (ABI) fell to 44.1 (any score below 50.0 indicates decreasing business conditions), a significant drop from the previous month’s score of 49.6. Inquiries into new projects continued to increase at a relatively slow rate, while the value of newly signed design contracts decreased further in December. The date indicates that the economic rally reported by architecture firms in October and November may not hold.
Image courtesy American Institute of Architects/Deltek
“While there were signs that the design cycle was bottoming out in the fourth quarter, the December reading indicated a step back,” said AIA chief economist Kermit Baker. "There remains considerable uncertainty as to the feasibility of many planned construction projects, so the wait-and-see period is extending into 2025.”
Image courtesy American Institute of Architects/Deltek
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