After nine months of growth, the Architectural Billings Index softened slightly in January — likely as a result of the weather.
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.
“This easing in demand for design services is a bit of a surprise given the overall strength of the market over the past nine months,” said AIA Chief Economist Kermit Baker. “Likely some of this can be attributed to severe weather conditions in January. We will have a better sense if there is a reason for more serious concern over the next couple of months.”
For more, go to this link: http://www.aia.org/press/AIAB105599
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