A leading economic indicator of construction activity, the ABI reflects the approximate nine to 12 month lag time between architecture billings and construction spending.
Its back and forth "speaks to the fact that this is a prolonged downturn that may be near the end of the cycle but still is problematic for the industry," an AIA spokesman tells GlobeSt.com.
Frozen credit remains the main impediment to an economic turnaround, AIA chief economist Kermit Baker says in a prepared statement. "And the longer this situation persists, the more dire the news for the architecture profession which is struggling at unprecedented proportions."
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