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Article: AIA not concerned by drop in billings.(American Institute of Architects )(Brief article)
- Article from:
- Real Estate Weekly
- Article date:
- March 28, 2007
CopyrightCOPYRIGHT 2007 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After three consecutive months of unexpectedly high scores, the Architecture Billings Index (ABI), a leading economic indicator of construction activity, dropped more than five points in February.
The American Institute of Architects (AIA) reported the February ABI rating was 52.5 (any score above 50 indicates an increase in billings), compared to a score of 57.9 in January.
With an approximate nine to twelve month lag time between architecture billings and construction spending, this news should not weaken a forecast that remains favorable for the nonresidential construction market throughout 2007.
"It's not surprising that the demand for ...