Architecture Billings Index Sees Decline after Eight Straight Monthly Gains

The Architecture Billings Index (ABI) is the leading economic indicator of construction activity, with approximately a nine to twelve month lag time between architecture billings and construction spending.  The American Institute of Architects (AIA) reported the April ABI score was 48.6, down from a mark of 51.9 in March.  After eight straight monthly gains in design activity, revenue at architecture firms fell in April. Spring slowdowns have been common during this uneven recovery, but the momentum of the fourth quarter of last year and the first quarter of this year pointed toward growing design activity moving through the entire year. Inquiries for new projects continued to grow at a healthy pace in April, as did the volume of new design contracts, so the expectation is for a resumption of revenue growth in the coming months. Click here to continue reading.