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This score signifies a balance between firms reporting increases and decreases in billings, a welcome shift after an extended period of declines.

While client interest in new projects has grown, caution remains, as evidenced by a continued seven-month decline in the value of new design contracts.

“October marked a turning point with billings stabilizing, giving firms a more optimistic outlook for 2025,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “In fact, 41% of firm leaders anticipate net revenue growth from 2024 to 2025, with 32% expecting increases between 5% and 9%.”

October ABI Highlights:

• Regional Performance: South (52.1); West (47.6); Midwest (46.9); Northeast (45.6)
• Sector Performance: Institutional (50.5); Mixed Practice (48.0); Commercial/Industrial (47.0); Multifamily Residential (45.6)
• Project Inquiries Index: 54.1
• Design Contracts Index: 45.3

It is important to note that regional and sector categories are calculated using three-month moving averages, which may not align exactly with the national score.

As the industry steps into a more stable phase, firms are cautiously optimistic about the future, with a focus on leveraging the opportunities that come with increasing project inquiries.

Visit for detailed information about this, and past billing index reports.