CRE Faltering

With Rosie now gone from Merrill Lynch/BofA (new research here), let’s see what his replacement, Neil Dutta, is up to:
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Leading measure of commercial real estate market heads south

cre-leading

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Neil  notes that Commercial construction contracting, as demand for architectural services (a  leading indicator for nonresidential construction) is still contract as of March 09, as the Institute of Architects’ Architectural Billings Index dropped to 42.8 in April from 43.7 in March.

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