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AIA’s Billing Index Not Getting Any Better

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Well, it’s even more official: things stink out there. Like we’ve been hearing since May, The American Institute of Architects have issued their latest Architecture Billings Index and things don’t look so hot. They look so un-hot that there hasn’t been this level of non-heat in firm billings across the county since they first starting tabulating this kind of data more than a decade ago. And things have gone down by double digit percentages in just a single month, which is never something easy to hear. But if you’re a glutton for depressing news, here’s a bit more:

“Until recently, the institutional sector had been somewhat insulated from the deteriorating conditions affecting the commercial and residential markets,” Kermit Baker, AIA chief economist, said in a statement. “Now we are seeing that governments and nonprofit agencies are having difficulties getting bonds approved to finance large scale education and health care facilities, furthering the weak conditions across the construction industry.”

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