Architecture Billings Index Hits Historic Low—Again

While the Architecture Billings Index (ABI) saw a small increase in December, after falling to a historic low the previous month, it didn’t take long for the poor economic climate to strike again. The AIA reports that the ABI hit a historic low in January with a rating of 33.3, down from 34.1 in December. (Of note: In January, the AIA research department re-estimates the ABI data, which recalibrates recent figures based on seasonal factors.) The new projects inquiries score was 43.5, up from 37.7 in December. AIA chief economist Kermit Baker says business conditions could improve now that the stimulus bill has passed.