February 25, 2008—The Architectural Billings Index (ABI) for the American Institute of Architects (AIA) stood at 50.7 in January, where any score above 50 indicates growth in design activity, and any score below 50 indicates a decline.
The January reading was the lowest in more than 18 months and, in all likelihood, points to a continued softening in the nonresidential sector, says the AIA.
Inquiries for new work, while rebounding a bit in January, also have been softer in recent months. Firms in the Midwest and South have reported an easing in recent months, while firms in the West report stabilizing conditions after a few months of downturn. Conditions in the Northeast remain healthy, with firms in this region reporting an upturn in recent months.
For more information, see the AIA Web site.
