Billings Decline In December
January 31, 2023
Billings Decline In December
The Architecture Billings Index score for December was 47.5, increasing from the November score of 46.6. Despite the uptick any score below 50 represents a decline in billings. The new Project Inquiries index was positive with 52.3 while the Design Contracts index remained in the negative with a score of 49.4.
“Despite strong revenue growth last year, architecture firms have modest expectations regarding business conditions this coming year,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD.
Regional averages for December, 2022:
| November | December | |
| West | 45.8 | 45.5 |
| South | 50.5 | 48.6 |
| Midwest | 47.6 | 49.4 |
| Northeast | 42.4 | 46.5 |
Sector index breakdown for December, 2022:
| November | December | |
| Commercial/industrial | 44.2 | 45.2 |
| Mixed practice | 51.5 | 54.8 |
| Multi-family residential | 46.1 | 44.3 |
| Institutional | 47.7 | 47.3 |
Baker continued, “With ABI scores for the entire fourth quarter of 2022 in negative territory, a slowdown in construction activity is expected later this year, though the depth of the downturn remains unclear.”
For more information about the Architectural Billings Index, visit the AIA website.
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