|AIA: Architecture Billings Index Tumbles Nearly Three Points|
|Wednesday, 18 May 2011 06:35|
The American Institute of Architects released today the results of April's ABI and news was not so rosy.
“The first question is whether this drop is a sign of an industry wide reversal in demand for design services or a bump in the road,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “The fact that most construction projects funded under the federal stimulus program have completed their design work, the anxiety around the possibility of a shutdown in the federal government in April, as well as the unusually severe weather in the Southeast had something to do with this falloff. However, the majority of firms are reporting at least one stalled project in-house because of the continued difficulty in obtaining financing. That issue continues to be the main roadblock to recovery.”
Key April ABI highlights:
Regional averages: Northeast (51.2), Midwest (51.1), South (48.3), West (47.7)