Slow November for architects could point to tight financing, weak construction labor supply
BPC Staff Dec 16, 2015 | 8:48 pm
1 min read time
157 wordsAll Latest News, Real Estate and DevelopmentAn index that measures activity at the nation’s architecture firms has been on a bit of roller coaster ride this year. In November, the index took a quick dip, falling to 49.3, meaning there was a decrease in activity for the month. Compiled by the American Institute of Architects, the index is an indicator of future construction activity. A reading above 50 indicates an increase in billings. The index was 53.1 in October. “We continue to hear from our architecture firms that they are bringing in new projects,” AIA Iowa Executive Director Jessica Reinert said in a release. “The instability in billings this month doesn’t seem to reflect any underlying weakness in the construction sector. However, it could reflect an uncertainty of moving ahead with projects due to tightness in construction financing and the growing labor shortage problem that the entire design and construction industries are facing.” The November reading for firms in the Midwest was 47.8.
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