Today we read:

The architects’ billing index rose in February after hitting an all-time low in January, the American Insitute [sic] of Architects said Wednesday. A leading indicator of construction spending, the index rose to 35.3 in February from 33.3 in January. Readings over 50 would indicate more work at most architectural firms. “Despite a higher score than last month, we are likely to see light demand for new construction projects through much of the year,” said AIA chief economist Kermit Baker. “There is hope that the stimulus bill will result in more project activity, but that is also dependent on banks easing lending standards in the months ahead.”

That’s disencouraging!

Architects’ Index Improves [Marketwatch]