Billings at U.S. architecture firms experienced the second straight monthly decline and the first two-month downturn since the middle of 2012. The AIA’s Architecture Billings Index (ABI), produced by the AIA Economics and Market Research Group, reports the December level of 48.5 was below November's 49.8 level.
The AIA says that unusually severe weather conditions in parts of the country could have played a role in the dip; however, inquiries for new projects accelerated a bit in December, offering a sign that revenue may begin to turn up in the new year.
Northeast and Midwest firms both reported declining business conditions for the month, while firms in the Northeast saw the third straight monthly decline and the steepest decline since the downturn in early 2009. In the South and West, firms reported reasonably healthy business conditions for the month.
Read the source article at The American Institute of Architects.
