AIA Architecture Billings Index Score Flat at 45.7 in September

Washington, DC, October 23, 2024-The Architecture Billings Index (ABI) score of 45.7 for September indicates that the majority of firms continued to experience a decline in their billings, according to the latest data from the American Institute of Architects. August's score was also 45.7.

Despite improving conditions in the broader economy, September marked the twentieth consecutive month of declining billings for architecture firms

“Despite recent rate cuts by the Federal Reserve, many clients remain on the sidelines with regard to proceeding on planned projects,” said Kermit Baker, PhD, AIA chief economist. “And while new project opportunities also emerge, clients are cautious about which to pursue. Fortunately, architecture firms report backlogs of 6.4 months on average, which remain above pre-pandemic levels and are an indication that there is existing work in the pipeline.”

Regional averages were as follows: South (49.5); Northeast (46.4); Midwest (45.0); West (42.6).

The sector index breakdown was institutional (48.5); mixed practice (firms that do not have at least half of their billings in any one other category) (47.8); commercial/industrial (44.2); multifamily residential (41.7).

Project inquiries index were 51.6, and design contracts index were 48.3.

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