In the News – Architecture Billings Index Contracts for Second Consecutive Month
The American Institute of Architects (AIA) reported the September ABI score was 48.4, down from the mark of 49.7 in the previous month. This score reflects a decrease in design services (any score above 50 indicates an increase in billings), and markets the first consecutive months of decline in demand for design services since the summer of 2012.
The new projects inquiry index was 59.4, down from a reading of 61.8 the previous month.
“This recent backslide should act as a warning signal,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “But this drop-off in demand could be continued hesitancy in the marketplace to move forward on projects until the presidential election is decided. The fact that new work coming into architecture continues to slowly increase suggests that billings will resume their growth in the coming months”
Regional averages were as follows: South, 53.4; Midwest, 50.1; West, 49.5; and Northeast, 44.0.
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