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U.S. Architecture Billings Index falls in August
The Architecture Billings Index, an indicator of U.S. non-residential building activity, fell slightly in August, after hitting a seven-year high the previous month. The ABI stood at 53.0 in August, down from 55.8 in July, the American Institute of Architects said on Wednesday. The index, based on a survey of U.S. architects, reflects the roughly nine to 12 months between architecture billings and construction spending. A reading above 50 indicates an increase in billings. "Long awaited access to credit from lending institutions and an increasing comfort level in the overall economy has helped revitalize the ... (full story)