Architecture Firms Face 20-Month Billing Slump Despite Economic Recovery
Architecture firms face continued decline in billings, as shown by the latest AIA/Deltek Architecture Billings Index (ABI). September marks the 20th month of this downturn, with a score of 45.7. Despite economic improvements, clients remain cautious about new projects. However, firms report an average backlog of 6.4 months, suggesting some resilience in the pipeline.Key Insights: Regional ABI: South (49.5), Northeast (46.4), Midwest (45.0), West (42.6) Sector Performance: Institutional (48.5), Multifamily Residential (41.7)Stay informed on the economic climate affecting the architecture industry. #Architecture #EconomicOutlook #Design #AIA #BusinessConditions #ArchitectureBillingsIndex #Deltek #Resiliencehttps://bit.ly/4e55N0qClients remain cautious on new projects, leading to continued revenue declines, yet strong backlogs provide a glimmer of hope for architecture firms.