As a monthslong economic slump continues, the latest Architecture Billings Index from AIA/Deltek reports the sharpest decline in architecture billings yet.
Though architecture business conditions remained soft nationwide, the pace of decline is slowing and firms saw an uptick in inquiries for new projects.
Inflation, supply chain issues, and economic challenges continue to impact architectural billings, but institutional design contracts appear to have stabilized.
Though architectural billings continued to decrease in February, the slowed pace of decline indicates the recent downturn in business conditions at architecture firms may ease.
For the eighth consecutive month, the AIA/Deltek architectural billings index reports an economic downturn, with the pace of decline accelerating in the past four months.
