ABI Slips in December
In November and December, the Architecture Billings Index posted its first consecutive months of contraction since May and June of 2012, according to an American Institute of Architects release. The AIA reported the December ABI score was 48.5, down from a mark of 49.8 in November, reflecting a decrease in design services. The new projects inquiry index was 59.2, up from the reading of 57.8 the previous month.
“What we thought last month was an isolated dip now bears closer examination to see what is causing the slowdown in demand for architectural services,” said Kermit Baker, Hon. AIA, PhD, AIA chief economist, in the release. “It is possible that some of this can be attributed to the anxiety in the marketplace caused by the shutdown of the federal government, but it will be important to see how business conditions fare through the first quarter of the new year when we no longer have end of the year issues to deal with.”