Architecture Billings Turned Positive in October at 50.3

Washington, DC, November 20, 2024-After twenty months of declining billings, the AIA/Deltek Architecture Billings Index (ABI) score for October was 50.3. This score indicates a balance between the number of firms experiencing a decrease in billings and those seeing an increase.

Although there was an increase in inquiries for new projects in October, clients are still cautious about moving forward. The value of new design contracts continued to decline for the seventh month in a row.

“Billings finally stabilized this month, and firms are feeling more optimistic about revenue projections for 2025,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “Overall, 41 percent of responding firm leaders expect to see net revenue growth from 2024 to 2025, with 32 percent projecting growth in the five percent to nine percent range.”

Regional averages were aws follows: South (52.1); West (47.6); Midwest (46.9); Northeast (45.6).

The sector index breakdown was institutional (50.5); mixed practice (firms that do not have at least half of their billings in any one other category) (48.0); commercial/industrial (47.0); multifamily residential (45.6).

The project inquiries index score was 54.1, and the design contracts index score was 45.3.

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