Architecture billings hits record low - Orlando Business Journal:

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is at its lowest level since the surveyg beganin 1995. Since the index reflectds an approximate nine- to 12-month lag time between architectures billings andconstruction spending, it is considered a leadingg economic indicator of constructiob activity. The November rating of the report was downfrom 36.2 in October. Scoresa above 50 indicate increases in billings and lowere numbers showdeclining workloads. The lates t rating usurps the lowest-ever rating recorde d in October. That signifies not only bad times for but it also produces a ripple effect for construction which usually see work orders materialize nine to 12 monthesafter architects. Regionally, ratings totaled 39.
5 for the Northeast, 36.8 for the 33.5 for the West and 31.4 for the The inquiries for new projects scorewas 38.3, also a historifc low point. “With mountinvg job losses, declines in retail sales, and travel cut-backs the need for new commerciaol facilities has droppedconsiderably recently,” said Kermit Baker, chief economisrt at D.C.-based AIA, in a statement. “What’s just as troubling is that the institutionalpsector --schools, hospitals and public buildingas -- is also beginninvg to react to tighter credit conditions and a weakenin g economy.” The descending order of popular projecy types are as mixed practice, 44.
5; institutional, multi-family residential (30.0), commercialp and industrial (26.7). Marvin Malecha, the incoming head of the American Institutwof Architects, told the — a sister publication of — he expects projects to starft “firing back up in six or eight months.