Architecture Billings Soften in December
January 23, 2019
Tariffs & Government Shutdown Loom
The Architecture Billings Index score for December was 50.4, down 4.3 points from November. Despite the pullback this marked the fifteenth consecutive month of growth in billings.
“Given the concerns over the ongoing tariff situation, it is not surprising to see a bit of a slowdown in progress on current projects,” said American Institute of Architects Chief Economist Kermit Baker.
The project inquiry index was 55.6, down from the previous month’s score of 63.1. The design contracts index decreased 2.5 points to 52.1. Growth slowed across all sectors.
Baker added, “Growing anxiety over unstable business conditions and the partial shutdown of the government may lead to further softening in the coming months.”