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Architecture index drops for 2nd straight month
By: Beth Kevit//January 23, 2014//
Listen to this articleThe Architecture Billings Index decreased in December, marking the first time the index has dropped in back-to-back months since 2012.
Billings in the index indicate construction spending that will begin in roughly nine months to a year, according to a news release. Anything below a score of 50 indicates a decrease in billing activity.
According to the American Institute of Architects, the index score for December was 48.5. In November, it was 49.8.
The Midwest had a score of 47, trailing the west and south regions and beating only the northeast.
Nationwide, average billings for multi-family residential and mixed-use projects increased in the past three months but decreased for commercial, industrial and institutional projects.
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