Despite what Marvin Malecha might think about the architecture industry rebounding in as soon as six months, his American Institute of Architects surely isn’t helping perk anyone up, as they’ve just released their latest Architecture Billings Index for November and things have continued to fall even lower than they were last month, which was already a depressing record setter, resulting, of course, in likely more activity over at Archlayoff. Here’s a bit:
“With mounting job losses, declines in retail sales, and travel cut-backs, the need for new commercial facilities has dropped considerably recently,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “What’s just as troubling is that the institutional sector — schools, hospitals, and public buildings — is also beginning to react to tighter credit conditions and a weakening economy.”
Also related, an interesting look back at the year that was, from the big highs to these current low lows, from the Globe and Mail‘s Lisa Rochon. A quick, recommended read not so much for the things that were built in ’08, but for what a remarkably volatile year this was in the business of building.