����ר��

For the first time since the peak of the pandemic in 2020, February saw a drop in inquiries for new projects, typically a steady indicator of potential opportunities even during economic slowdowns. Adding to the strain, new signed design contracts have decreased for the twelfth consecutive month, reflecting client hesitation to commit amidst ongoing economic uncertainty. Billings remained soft in all regions of the country in February, with business conditions also weak across firms of all specializations.

"Conditions in the broader economy were generally positive in February, with the Consumer Price Index (CPI) increasing by only a modest amount, long-term interest rates easing from January levels, and healthy job growth,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “However, uncertainty surrounding the impact of recently announced tariffs may lead to a rise in building material prices in the coming months while immigration policy may put even more pressure on an already undersupplied construction labor market."  

Key ABI highlights for February include:
•    Regional averages: West (48.1); South (47.6); Midwest (45.2); Northeast (41.3)
•    Sector index breakdown: commercial/industrial (46.9); institutional (46.4); multifamily residential (46.1); mixed practice (firms that do not have at least half of their billings in any one other category) (42.1) 
•    Project inquiries index: 47.8
•    Design contracts index: 42.0

The regional and sector categories are calculated as three-month moving averages and may not always average out to the national score.

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