After three months of impressive gains, architectural billings slackened somewhat in October, according to the Architectural Billings Index — they continued to increase, but at a slower pace.
AIA Chief Economist Kermit Baker attributed the slowing to uncertainty about the U.S. economy and the delaying effects of the government shutdown.
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.
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