Apparently, in the current economic climate, short lived are the days of growth in the architecture industry. After months of staying relatively flat, but still, thankfully, above the 50 mark (anything 50 or above indicates a general uptick in business), the AIA‘s monthly Architecture Billings Index has been released and it has dropped nearly three full points, down to 47.6, meaning the burdens of the economy are still very much affecting the business of building. However, Reuters reports that the cause might not just be the economy, but might also have “included unusual factors, like the threat of a U.S.government shutdown and destructive storms,” which are just the sorts of things that can spook people enough to move the needle down in an already flailing market. Here’s a bit from the AIA’s resident numbers man:
“The majority of firms are reporting at least one stalled project in-house because of the continued difficulty in obtaining financing,” said AIA Chief Economist Kermit Baker. “That issue continues to be the main roadblock to recovery, and is unlikely to be resolved in the immediate future.”
- Stereotank Drums Up a Winner for Times Square Valentine Heart Competition
- Hot to Cold: Bjarke Ingels Group's 'Architectural Odyssey' Bound for National Building Museum
- 'From a Spoon to a Monastery,' John Pawson on Design, Stuff, and Photography as Therapy
- Wanted: Designer Who May Already Have Won Ten Million Dollars!