The Real Deal Miami

Architects’ billings show decline

December 16, 2009 12:55PM

The American Institute of Architects reported dismal results today. The institute’s monthly Architecture Billings Index, which measures economic activity in architecture and construction, ranked at 42.8 points, down more than 3 points from October, when the index hit 46.1. The November figure represents an overall decline in demand for design services, according to the report. Kermit Baker, AIA’s chief economist, said that this decreased activity reflects an overall market insecurity. “There continues to be a lot of uncertainty in the construction industry that likely will delay new projects in the near future,” Baker said. TRD