We hope that we’ve spent enough time warning you that there won’t be any good news coming out of the economics side of the architecture industry anytime soon. Following the American Institute of Architects‘ release of the depressing Consensus Construction Forecast and a continuing below-positive stagnation Billings Index, the AIA has just released their latest numbers and things have dropped once more, down five points from the very, very slight uptick last month. While this is certainly not the type of falling we were seeing more than a year ago, it still has to be pretty psychologically painful to have to face another downward trend.
“It appears as though we may have not yet reached the bottom of this construction downturn,” AIA Chief Economist Kermit Baker said. “Architecture firms are struggling and concerned that construction market conditions will not even improve…next year.”