The latest AIA/Deltek Architecture Billings Index® (ABI) reported a decrease from its April posting of 48.3, down to 44.5. This is the lowest level since the beginning of 2026. Signaling effects from general economic uncertainty in the past few months, despite cautious optimism earlier in the year.
The South remains the strongest regional market at 49.6, with the Northeast (46.2), West (45.4) and Midwest (45.3) trailing a bit behind.
“The uncertainty created by the Iran conflict, and substantially higher energy costs, weighed on architect billings in May,” said AIA Chief Economist, Richard Branch. “Higher interest rates, rapidly rising material costs and continued labor shortages all contributed to softer demand.”
