Architectural billings declined for a second straight month in December — the first consecutive-month drop since mid-2012, according to the Architectural Billings Index.
Compiled by the American Institute of Architects, the ABI is a leading economic indicator for construction: It takes approximately nine months to a year between architecture billings and construction spending.
“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 AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “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.”
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