New Report Preview

The American Institute of Architects’ (AIA) ABI Index – a leading indicator of non-residential construction activity 9-12 months into the future – came in unchanged in June at 45.9. Readers should caution at thinking a sideways reading month-to-month indicates a flattening out of a trend; any index reading below 50 indicates that overall architects’ billings are still declining. Deterioration in billings since the spring has been clearly driven off of declining domestic business confidence, as global macro fears are chipping away at fragileUSbusiness conditions… more

Our full report is available to subscribers and provides further thoughts on the June ABI Index as well as the impact on steel equities.

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