Graph of the Day: Architectural Billings Index, 1996-2008

From Calculated Risk:

The American Institute of Architects reports: Another Historic Low for Architecture Billings Index Note that historically there is an “approximate nine to twelve month lag time between architecture billings and construction spending”. The ABI fell off a cliff in early 2008 and we are just starting to see that decline show up in non-residential construction spending.
The ABI fell off a 2nd cliff in late 2008, and that will show up later in 2009.

Architecture Billings Index Hits Another Record Low