AIA Billings Index Up for First Time in 3 Month

Washington, DC, May 21, 2008--After hitting a record low in March, the American Institute of Architects said Wednesday its index of nonresidential construction rebounded slightly in April, which could indicate the slowdown in non-residential construction may be moderating.

The AIA's Architecture Billings Index, which tracks new billings for nonresidential construction at U.S. architecture firms, rose 5.8 points in April to 45.5 from 39.7 in March.

It was the first increase in three months. A figure below 50 means new billings fell from the previous month.

AIA also said its index of new billing inquiries rose 5.9 points to 53.9, meaning inquiries rose from March to April.

New billings for commercial/industrial projects - which accounts for about 60 percent of billings - rose 1.6 points to 39.3. Billings for "institutional," or nonprofit or publicly owned facilities, fell 2.2 points to 50.4. The figure for mixed nonresidential construction grew 1.4 points to 45.2.

Print the Article