Architecture Firms Report Monthly Increase

Courtesy of AIA

The broader economy has moved into a slower growth phase since this past spring, according to Kermit Baker, AIA Chief Economist. The economy grew just 1.7 percent in the second quarter, and payrolls at U.S. businesses have declined every month since April. September brought an additional 95,000 payroll losses, though some were still related to the downsizing of U.S. Census Bureau workers.

Difficulties in the labor market have made consumers more cautious. Consumer sentiment readings have been flat for the past several months according to the University of Michigan's consumer sentiment index, but down from levels at the beginning of the year. Challenges in the labor market will ultimately affect landscape industry and overall economy.

Business confidence has not fared much better. After posting reasonably strong scores during the second half of last year and the first half of this year, CEO business confidence dropped 12 points in the third quarter according to the Conference Board (from 62 to 50, where scores above 50 are considered positive).

- Courtesy of AIA