AIA: Architecture business conditions remained soft in July

Architecture firms reported a modest decline in billings in July, with business conditions remaining soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.

“Macroeconomic uncertainty continues to weigh on the built environment,” said AIA chief economist Richard Branch. He explained that elevated oil prices were increasing inflationary pressure, potentially leading to higher interest rates later in the year and further constraining developers.