ABI Slips in November
After six months of steadily increasing demand for design services, the Architecture Billings Index slipped in November, according to an American Institute of Architects report. The AIA reported the November ABI score was 49.8, down from a mark of 51.6 in October. The new projects inquiry index was 57.8, down from the reading of 61.5 the previous month, according to the report.
“Architecture firms continue to report widely varying views of business conditions across the country," said Kermit Baker, AIA chief economist, Hon. AIA, Ph.D., in the release. "This slight dip is likely just a minor, and hopefully temporary, lull in the progress of current design projects. But there is a continued uneasiness in the marketplace as businesses attempt to determine the future direction of demand for commercial, industrial, and institutional buildings.”