AIA Billings Index Essentially Flat in March

Washington, DC, April 20, 2011 -- The Architecture Billings Index edged down 0.1 point to 50.5 in March, according to the American institute of Architects.

Any score above 50 indicates an increase in billings. The index is considered a predictor of construction conditions nine to 12 months in the future.

The trade group said architects are "swimming upstream."

A recovery cannot take root until financing improves, the AIA said. Construction financing is difficult to obtain.

"Demand is not falling back into the negative territory, but also not exhibiting the same pace of increases seen at the end of 2010," said AIA Chief Economist Kermit Baker.

The AIA's index of inquiries about new projects rose 2.3 points to 58.7.

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