Architecture Billings Index Declined to 47.7 in October

Washington, DC, November 17, 2022-The American Institute of Architects’ (AIA) Architecture Billings Index (ABI) score for October was 47.7, the first decline in billings since January 2021 (any score below 50 indicates a decline in firm billings).

Inquiries into new projects continued to grow in October with a score of 52.3, while the value of new design contracts declined, with a score of 48.6.

“Economic headwinds have been steadily mounting, and finally led to weakening demand for new projects,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “Firm backlogs are healthy and will hopefully provide healthy levels of design activity against fewer new projects entering the pipeline should this weakness persist.”

Regional averages (three-month moving averages) were as follows: Midwest (50.8); South (50.6); Northeast (50.3); West (49.6).

The sector index breakdown was institutional (54.3); mixed practice (50.8); multi-family residential (46.1); commercial/industrial (45.9).

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