The good news is that there's only nine days left in 2020. That's it, that's all I have. But, if you are curious about architectural billings, proceed with caution. The American Institute of Architects (AIA) publishes the Architecture Billings Index (ABI), which serves as a leading indicator of commercial building construction by approximately nine to 12 months. A value greater than 50 means that architecture billings are increasing; any value less than 50 means billings are decreasing. Spoiler alert: there is more declining than increasing. If it is not clear I am completely over 2020.
The overall ABI for November was 46.3, a decline from 47.5 in October. This is the first decline since April.
All is not lost as there are some minor bright spots in the regional data if you squint:
And then we get to the industry sector breakdown...keep on squinting:
So there are a few bright spots as we glide through the holiday season, but overall we ended the calendar year weakly. Wake me up when it's 2021.