The latest economic data revealed by the new AIA/Deltek Architecture Billings Index for May has indicated a sharp decline to a score of 42.4, representing a new low point for the index after a year and a half of weak performances.
"The decline in the May ABI score continues a year and a half of weakness in design billings at U.S. architecture firms. However, firms only reported modest declines over the first half of this period. Over the past nine months, volatility has increased, and scores have softened more significantly, with the May score the weakest reported since the end of the pandemic recession," Kermit Baker, the AIA's Chief Economist, noted in a statement about the latest figures.
The report points out that this is the fourth consecutive month in which declines have been posted in every region, with particularly weak conditions reported for the Midwest.
You can read our new guide to understanding business conditions via the AIA's Architecture Billings Index here.
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3 Comments
FFS economy, get yourself fixed.
I can't recall the previous time the ABI has been consistently negative for this many consecutive months.
Tough time to be looking for a job
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