AIA Billings Index Falls Again

Washington, DC, Feb. 18, 2009--The Architecture Billings Index fell to a historic low of 33.3 in January, from 34.1 in December, according to the American Institute of Architects. Any reading below 50 indicates a decline in billings.

All the industry sectors tracked by the group remained below 50, as did all geographic regions. However, a measure of inquiries for new projects rose to 43.5, from 37.7 the previous month, possibly reflecting optimism about the government's economic stimulus.

"Now that the stimulus bill has passed and includes funding for construction projects, as well as for municipalities to raise bonds, business conditions could improve," AIA chief economist Kermit Baker said in a statement.

The AIA's monthly survey is considered a forward-looking measure of activity about nine to 12 months in the future.

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