U.S Architects' Services Index falls to lowest ever score

Source: Construction Exec

Date :23/04/2008 06:36:08

The U.S Architecture Services Index has been driven down to its lowest ever score by a slowing demand for U.S architectural services.

Developers are “cutting back plans” for commercial construction this year, the American Institute of Architects said.

The Washington-based institute said today that the Architecture Billings Index dropped to 39.7 last month from 41.8 in February - the lowest score since the survey's inception in November 1995.

Emblematic

Last month's decline, which followed an 8.9-point drop in February, is, according to the institute, “emblematic of the various struggling sectors in the overall economy.”

Architecture billings declined in all four U.S regions tracked by the Institute. The most significant drop was in the Midwest, which had a score of 36.9. The South had a score of 45.3 and the Northeast and West each had a score of 38.7.

The index is based on a survey of firms owned by members of the American Institute of Architects and participants are asked each month whether billings increased, decreased or were unchanged in the month just ended.

Their responses are used to generate the monthly score.

The Architecture Billings Index is a leading indicator of development of apartments, offices, warehouses and other commercial buildings.

April 23, 2008