By Eric Jay Toll for Phoenix Business Journal
Construction could slow later this year if the leading economic indicator from architects is right.
The American Institute of Architects has published its monthly Architecture Billing Index, and the trend is down.
January 2015’s index of 49.9 is under the 50 mark, which means billings are trending downward. Last year ended with an uptick to 52.2, so the January index is down 2.3 points from December. That’s the largest one-month decline since last August.
The bright spots are that project inquiries marked a 58.7, a half point increase from December. Design contracts were up 1.4 points to 51.3 from December’s less-than-stellar 49.9.
Regionally, design firms in the West, which includes Arizona, continue a downward trend to 49.3 for January from last January 2014’s year-topping 51.5 index numbers.
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