Billings at Architecture Firms Remain in Decline, AIA Deltek Architecture Billings Index Reports
July 24, 2024
Business conditions remained soft at architecture firms in June with the AIA/Deltek Architecture Billings Index (ABI) reporting a score of 46.4. Any score below 50 indicates a billings decline, although this month’s score indicates that somewhat fewer firms reported a decline in billings in June than in May. The ABI score is a leading economic indicator of construction activity, providing an approximately nine-to-twelve-month glimpse into the future of nonresidential construction spending activity.
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Construction Spending Gains Projected This Year, Expected to Stall in 2025
July 19, 2024
Spending on nonresidential buildings is projected to increase more than 7% this year, according to The American Institute of Architects mid-year Consensus Construction Forecast. The spending will slow to only 2% in 2025 as market challenges continue to impact the pace of growth. Construction spending, while continuing to increase, has seen the pace of growth slow so far this year, and this slowdown is expected to continue into 2025.
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