The American Institute of Architects/Deltek Architecture Billings Index remained below 50 for the fourth consecutive month. The score of 45.3 did increase one point from October, indicating slightly fewer firms reporting a decline in architecture billings. Any score below 50 indicates decreasing business conditions.
“This marks the seventh month in 2023 with a decline in billings. Over the past three months this pace of decline has accelerated, with firms in all specializations and in all regions of the country reporting weakening business conditions,” said Kermit Baker, PhD, AIA chief economist.
