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Construction starts drop 7%, marking second consecutive loss

November 22, 2023


While the construction starts report measures projects that have broken ground, the American Institute of Architects’ Architecture Billings Index tracks building design work for jobs to come. That index, which leads actual construction by nine to 12 months, continued to soften in October as well.

That means not only are billings declining at firms, but that fewer clients are committing to new projects, according to the report. Additionally, billings were universally soft across the entire country in October, with firms located in the West and Northeast continuing to report the weakest conditions overall for the second month in a row.

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