Construction Pipeline Looking Skimpier and Skimpier

WASHINGTON, DC-Development, not exactly an exploding activity in the last two years to begin with, appears to be on the brink of stagnation, based on two real estate metrics released last week. One, the Architecture Billings Index–a leading economic indicator of new projects–continues its disconcerting drop. The second, a new analysis of construction employment figures, shows that employment is moving, at best, only sideways.

This, to be sure, is better than 2008, 2009 and 2010 when it was dropping, Associated General Contractors of America spokesperson Brian Turmail tells GlobeSt.com. However the progress in 2011, he says, has been scant. “We keep getting these reports,” he says. “One month 26 states have added jobs, the rest have lost jobs. Then the next month 25 states added jobs, and so on.”