ARCHINECT.COM
AIA/Deltek Architecture Billings Index drops again in August for 19th consecutive month
The newestAIA/DeltekArchitecture Billings Indexreporting has shown a continued stasis of weak conditions for firms nationally. The August ABI is now 45.7, down from the 48.2 figure that was recorded for July (any score below 50.0 indicates a decline). This is now the nineteenth consecutive month of declines in the ABI index."Unfortunately, even the impending interest rate cuts didnt move the needle on project inquiries or new design contracts at architecture firms. Hopefully, once the trajectory of further cuts gets clarified, delayed projects will restart, and new projects will gather momentum,"the AIAs Chief Economist Kermit Baker says of the findings:August ABI HighlightsRegional averages: Northeast (48.2); South (46.8); Midwest (46.6); West (45.7)Sector index breakdown: mixed practice (firms that do not have at least half of their billings in any one other category) (48.6); institutional (47.4); commercial/industrial (46.6); multifamily residential (44.0)Project inqui...