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| AIA Architecture Billings Index drops for fifth straight month Following a drop of almost a full point in June, the Architecture Billings Index (ABI) fell again by more than a point in July. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the July ABI score was 45.1 – the steepest decline in billings since February 2010 – after a reading of 46.3 the previous month. This score reflects a continued decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 53.7, a considerable slowdown from a reading of 58.1in June. Key July ABI highlights: Regional averages: South (46.9), West (46.6), Northeast (46.4), Midwest (44.9) Sector index breakdown: commercial / industrial (47.9), institutional (47.2), mixed practice (47.1), multi-family residential (44.7) Project inquiries index: 53.7 write your comments about the article :: © 2011 Construction News :: home page |