In January, the Architectural Billings Index (ABI) sunk to 33.3, the lowest level in its 13-year history. The score has fallen below 50 for 12 straight months; a score above 50 indicates an increase in billings, and below 50, a decrease.
One of the profession’s leading economic indicators, the index is compiled by the American Institute of Architects (AIA) and is based on surveys sent largely to commercial firms. It reflects a nine- to 12-month lag time between architectural billings and construction spending.
Seen on Architectural Record. Read the full article, here.