Billings index dips into negative territory
The profession in the United States recorded a rocky start to the year, the latest figures from the American Institute of Architects (AIA) show.
The US Billings Index dipped into negative territory in January, dropping from a score of 51.3 in December to 49.6. Anything below 50 shows a decrease in fees for design services.
The worst-hit region was the Midwest, at 48.9. The best-performing sector was multi-family housing.
Meanwhile, the new projects inquiry index was 55.3, down from 60.5 in December.
AIA chief economist Kermit Baker said: “The fundamentals are mostly sound in the non-residential design and construction market.
“January was a rocky month throughout the economy, with falling oil prices, international economic concerns, and with steep declines in stock market valuations in the US and elsewhere. Some of the fallout of this uncertainty may have affected progress on design projects.”
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