Despite six months of steady increase, the Architecture Billings Index (ABI) for November revealed a slight decrease in demand for design services. The November ABI score was 49.8, down from 51.6 in October (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.8, down from 61.5 the previous month.
“This slight dip is likely just a minor, and hopefully temporary, lull in the progress of current design projects,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “But there is a continued uneasiness in the marketplace as businesses attempt to determine the future direction of demand for commercial, industrial, and institutional buildings.”
More highlights from the November ABI, after the break...
Key November ABI highlights:
*The regional and sector categories are calculated as a 3-month moving average, whereas the index and inquiries are monthly numbers.
Source: the AIA Economics & Market Research Group