Architecture Billing Index Moves Higher in April

Washington, DC, May 19, 2010--The Architecture Billings Index, a leading indicator of U.S. nonresidential construction spending, rose for the third consecutive month in April, according to the American Institute of Architects.

The index was up 2.4 points to 48.5 last month, its highest since January 2008. A measure of inquiries for new projects rose 1 point to 59.6, after a 6 point increase in March.

Readings above 50 indicate expansion, while those below 50 to declining demand.

"The design and construction industry may be nearing an actual recovery phase," AIA Chief Economist Kermit Baker said in a press release.

Of four U.S. geographic regions, only the Northeast was above 50 in April, while all four construction sectors remained below that mark.

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