While the Architecture Billings Index (ABI), the monthly indicator of economic conditions put out by the AIA, was already dropping prior to the new Trump administration, the continued calls for tariffs and other changes to the labor market have left the economy and many business owners quavering and wondering whats to come. For February the ABI again reported a decline in billings, coming in with a score of 45.5 for the month (any number below 50 indicates a decline in billings). This is an ever-so-slight dip from Januarys 45.6 score, and confirmed that a majority of architecture firms are continuing to see less on the billings front. For the last month, the stock market has been up and down as President Donald Trump announces and redacts his call for tariffs on imported goods, moves that would undoubtedly affect the cost of building materials, including wood. In a statement AIA chief economist Kermit Baker held somewhat steady in his optimism, suggesting that an increase in the Consumer Price Index and easing interest rates indicate positive economic growth, albeit masked by the uncertainty of the new administrations policies.Conditions in the broader economy were generally positive in February, with the Consumer Price Index (CPI) increasing by only a modest amount, long-term interest rates easing from January levels, and healthy job growth, Baker said. However, uncertainty surrounding the impact of recently announced tariffs may lead to a rise in building material prices in the coming months while immigration policy may put even more pressure on an already undersupplied construction labor market. In a dramatic turn from previous months, in February, architecture firms nationwide reported a decrease in inquiries into new projects, indicating that new opportunities for architects may be lessening. The index for new project inquiries was 47.8, down from 51.4 in January, and now the lowest it has been since peak pandemic in 2020.In addition to reporting a national index, the AIA shares data on how individual regions are faring. Again firms in the Northeast reported the steepest decline in billings, 41.7, while firms in the West, where business conditions had been stronger, reported declines too.