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Architecture Billings Index dips below 50

The Architecture Billings Index from the American Institute of Architects went from 50.1 in July to 47.2 in August as demand for design contractors also slid to 47.9. "The sizeable drop in both design billings and new project activity, coming on the heels of six months of disappointing growth in billings, suggests that the design expansion that began in mid-2012 is beginning to face headwinds," said Kermit Baker, chief economist at the AIA.

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