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Around the Industry - Dec 21, 2012
The monthly Architectural Billings Index (ABI) published by the American Institute of Architects (AIA), Washington, D.C., in January fell to its lowest score in the 13 years it has been in existence. Any score below 50 indicates a decline from the previous month. The ABI has now been below 50 for the last 12 months, the longest period of sustained weakness in the 13-year history of the index.
On the bright side, the decline in inquiries slowed slightly this month with a score of 43.5 (up from 38.5 in December), indicating fewer clients shying away from projects. But overall, business conditions at architecture firms remain depressed. Business conditions remained weak at firms in all regions of the country and in all practice sectors. Many firms have been forced to make changes to staff benefits and salaries in light of the recession, with more than half of the panelists indicating that they have instituted salary freezes.
While the comments from survey respondents reflected the dismal market conditions, some respondents were seeing some daylight. Said a respondent with a 10-person firm in the Midwest that focused in institutional work, “Our local work has dried up, but several regional and national projects that have just been released should make for a very busy year for us.”