Economic Downturn has led to Increased Project Cancellations

Courtesy of American Institute of Architects

Architecture firms in the Northeast reported a slight improvement in business conditions in August, the second such bump above the 50 point threshold in the last five months. It's uncertain yet whether the growth will be sustained, but it is an encouraging sign of impending recovery. In addition, firms in the Midwest reported a score of 49.2 this month, indicating that growth may be imminent there as well.

While there's been a slowdown in construction activity, residential construction has actually been improving in several cities, including the Cleveland, St. Louis, and Minneapolis districts. On the other hand, rents for commercial, industrial, and retail facilities declined in the New York and Kansas City districts in recent months.

- Courtesy of AIA