Architecture Billings Index Still Slightly Negative
Washington, DC, May 22, 2014 -– The Architecture Billings Index remained in negative territory for the second consecutive month in April.
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The index reflects the approximate nine to 12-month lead time between architecture billings and construction spending.
The American Institute of Architects reported the April ABI score was 49.6, up slightly from a mark of 48.8 in March.
Any score above 50 indicates an increase in billings. The new projects inquiry index was 59.1, up from the reading of 57.9 the previous month.
The AIA has added a new indicator measuring the trends in new design contracts at architecture firms that can provide a signal of the direction of future architecture billings. The score for design contracts in April was 54.6.
“Despite an easing in demand for architecture services over the last couple of months, there is a pervading sense of optimism that business conditions are poised to improve as the year moves on,” said AIA Chief Economist Kermit Baker.