AIA Billings Index drops in January. A leading indicator of U.S. nonresidential construction spending fell in January to its lowest level since August 2009 as more construction projects were delayed or canceled. According to the American Institute of Architects, the Architecture Billings Index (ABI) was down last month 2.9 points to 42.5. The index has remained below 50 since January 2008 indicating soft demand for design services.
“Lending institutions are placing unusually stringent
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