The statistics are in for the ABI July, and as we shared in our coverage for June, the numbers are quite bleak. After June’s 46.3, July measured in more than a full point lower at 45.1. The new projects inquiry index dropped dramatically from 58.1 in June down to 53.7.“Business conditions for architecture firms have turned down sharply,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Late last year and in the first couple of months of this year there was a sense that we were slowly pulling out of the downturn, but now the concern is that we haven’t yet reached the bottom of the cycle. Current high levels of uncertainly in the economy don’t point to an immediate turnaround.” Regional averages include the South at 46.9, West at 46.6, Northeast at 46.4, and the Midwest at 44.9. Hopefully, for our coverage of the ABI August, we’ll have more positive data to share. Via @fedenegro.