An increasing number of architects, according to a newly released industry survey, are beginning to feel an impact from the spread of the COVID-19 virus.
That survey, conducted by the Washington-based American Institute of Architects, is showing that 50 percent of all reporting architectural firms, by late March, were seeing fewer new design projects than they did just at the beginning of the month.
Around 67 percent of firms have already seen their prospective projects either slow or stop altogether, while a large 76 percent of firms have confronted “at least one problem with their current projects related to the COVID-19 outbreak.”
Also, 59 percent expect inquiries among clients for new work to decline. A smaller 35 percent thought those inquiries would remain unchanged from February, with a smaller 6 percent actually anticipating an increase.
A very large 83 percent of responding firms said they were expecting an overall decline in revenue, with some 94 percent expecting that April’s numbers will be worse than March.
Those same respondents, by a 57 percent margin, expect the drop off in revenue to exceed 10 percent.
A statement from the AIA noted that “U.S. architecture firms are heading into uncharted waters regarding what the economy holds in store for them as the COVID-19 pandemic plays out globally.”
The statement adds that the situation is “exacerbated by the lack of timely business intelligence to help firm leaders make informed decisions.”
By Garry Boulard
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