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| ABI drops to all time low for second straight month, AIA says Business conditions at architecture firms continue to deteriorate, with the Architecture Billings Index (ABI) posting its lowest level since the survey began in 1995 for the second month in a row. As a leading economic indicator of construction activity, the ABI shows an approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the November ABI rating was 34.7, down from the 36.2 mark in October (any score above 50 indicates an increase in billings). The inquiries for new projects score was 38.3, also a historic low point. Key November ABI highlights: • Regional averages: Northeast (39.5), South (36.8), West (33.5), Midwest (31.4), • Sector index breakdown: mixed practice (44.5), institutional (40.8), multi-family residential (30.0), commercial / industrial (26.7) • Project inquiries index: 38.3. write your comments about the article :: © 2008 Construction News :: home page |