The Architectural Billings Index (ABI) for September 2011 is showing less bad news than the previous month.
The October score of 49.4 is up from the September number of 46.9 but as we know, anything below 50 is STILL a downturn, which is why I prefer to word the phrase “Less Bad News” as oppose to the intentionally misleading and overly optimistic “slowing of decline” wording that the AIA likes to use in the report.
There are two sectors that actually do show improvement: Residential (51.3) and Commercial/Industrial (53.5)
Employment in Architecture is still getting worse. 1,500 jobs were shed during the month of September (the most recent month with data) however the report suggests that this is due to “summer interns” due to the fact that the highest payrolls were reported in June, July and August.
For a complete review of the report, visit the AIA page.