by Calculated Risk on 2/20/2008 12:35:00 PM

More evidence of the CRE (Commercial Real Estate) slowdown.

From Bloomberg: U.S. Architects See Demand Drop as Developers Fear Recession (hat tip Brian)

Demand for U.S. architectural services fell in January for the first time in four months as developers concerned about a recession cut spending, the American Institute of Architects said.
...
The drop may signal a ``sustained'' decline in demand from developers of warehouses, offices and apartment buildings as the economy slows, the institute said.
...
``I think the economy has taken a turn for the worse in the last couple months, and projects that made sense last fall may make a lot less sense now,'' Kermit Baker, chief economist of the American Institute of Architects, said in an interview.