Architecture Billings Index Falls in January

Washington, DC, Feb. 23, 2011 -- The Architecture Billings index fell last month after two months of gains.

The American Institute of Architects said its leading indicator of U.S. nonresidential construction fell almost 4 points in January to 50.0, a level that indicates neither expansion nor contraction of demand for design services.

The billings index is considered a predictor of construction spending about nine to 12 months in the future.

A separate index of inquiries for new projects fell more than five points to 56.5.

The AIA's billings index dropped below 50 in January 2008 and remained below that mark until last November.

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