The Architectural Billings Index for January slipped to 49.6, down slightly from 51.3 in January.
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. (Any score above 50 indicates an increase in billings.)
“The fundamentals are mostly sound in the nonresidential design and construction market,” said AIA Chief Economist Kermit Baker. “January was a rocky month throughout the economy, with falling oil prices, international economic concerns, and with steep declines in stock market valuations in the U.S. and elsewhere. Some of the fallout of this uncertainty may have affected progress on design projects.”
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