16 May 2012 23:05 [Source: ICIS news]
HOUSTON (ICIS)--The outlook for future ?xml:namespace>
The AIA’s April Architecture Billings Index (ABI) was 48.4, down from 50.4 in March and down from 51.0 in February. Any score below 50 indicates a decrease in billings for design services.
“Considering the continued volatility in the overall economy, this … isn’t terribly surprising,” AIA chief economist Kermit Baker said. “Also, favourable conditions during the winter months may have accelerated design billings, producing a pause in projects that have moved ahead faster than expected.”
The ABI results reflect a lag of 9-12 months between architecture billings and construction spending, according to the AIA.
The April new-project inquiries index also weakened to 54.4, a drop of about 4%. The rate, however, was significantly slower than the nearly 11% drop in March from February.
All of the construction sectors saw diminished activity, the AIA survey indicated. The largest decline was in the commercial/industrial category.
Regionally, only the west saw improved results, rising by 2.6 points from March. The south, northeast and midwest all weakened by 1 to 4 points.
Every $1,000 spent on non-residential construction generates $160-230 (€126-182) worth of consumable chemicals and derivatives, according to the American Chemistry Council (ACC).
($1 = €0.79)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections