August architectural billings see softening of business conditions
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Business Record Staff Oct 4, 2023 | 8:57 am
1 min read time
127 wordsAll Latest News, Real Estate and DevelopmentThe AIA/Deltek Architecture Billings Index eased modestly in August, with a score of 48.1, marking the 11th straight month of essentially flat billings at architecture firms, the American Institute of Architects reports. Any score below 50 indicates decreasing business conditions. In the Midwest region, which includes Iowa, the August score also was 48.1. A year ago, the Midwest region’s score was above 50. “The ABI has identified a decline in billings in the Midwest this past August,” Jessica Reinert, AIA Iowa’s executive director, said in a prepared statement. “The only market sector seeing growth is commercial/industrial. New project work is stalling within architecture firms. This decline is creating uncertainty on what is to come for the remainder of 2023.” To read the entire report, click here.