Architecture Billings Index Drops Almost Two Points from SeptemberNovember 17th, 2010 | Category: Industry News
The Architecture Billings Index (ABI) has dropped 1.7 points from a score of 50.4 in September to a score of 48.7 in October, according to the American Institute of Architects (AIA). The ABI is an indicator of the nine to twelve month period of time between architecture billings and construction spending and any score below 50 is reported to show a decline in activity.
“This is disappointing news, but not altogether that surprising,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “We were anticipating a slow recovery period and it is likely that there will be some fits and starts before conditions show consistent improvement. Right now, reluctance from lending institutions to provide credit for construction projects and a sluggish economy are the main impediments to a revival of the design and construction industry.”