Architecture’s longest billings slump just keeps going for U.S. firms

The architecture industry’s long business slump shows little sign of letting up: The American Institute of Architects reported today that the latest AIA/Deltek Architecture Billings Index dipped to 46.6 in July (down from 47.3 in June), marking another month of contraction and extending the downturn to nearly three and a half years, the longest in the ABI’s history. 

There’s still interest in new work, with project inquiries reportedly rising again in July, but signed design contracts continued to lag.

The weakness isn’t confined to one corner of the country, the survey says. Billings declined across all four regions and every major specialization, with the Northeast once again bringing up the rear. Multifamily and institutional firms have given up the modest gains seen earlier this year, while commercial and industrial firms remain stuck in a downturn that has lasted since July 2022.

Reading the tea leaves, AIA Chief Economist Richard Branch explained: "Macroeconomic uncertainty co...