December 17, 2014 / 5:01 AM / 3 years ago

U.S. Architecture Billings Index falls in November

Dec 17 (Reuters) - The Architecture Billings Index, an indicator of U.S. non-residential building activity, fell in November, the American Institute of Architects (AIA) said on Wednesday.

The index fell to 50.9 in November from 53.7 in October.

A reading above 50 indicates an increase in billings.

The index, based on a survey of U.S. architects, reflects the roughly nine to 12 months between architecture billings and construction spending.

The score for an indicator to measure trends in new design contracts at architecture firms in November was 54.9.

Heading into next year, architecture firms are concerned with finding quality contractors for projects and coping with high costs of construction materials, AIA Chief Economist Kermit Baker said.

Industrial companies and their investors track the monthly index as an indicator of future demand for machinery and components used to construct buildings.

The new projects inquiry index fell to 58.8 in November from 62.7 in October. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Joyjeet Das)

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