AIA announces dip in Architecture Billings Index in April 2011

AIA, the American Institute of Architects, has announced that the Architecture Billings Index (ABI) has fallen almost three points in April 2011 after a period of several months of relatively positive business conditions.

As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported that the April ABI score was 47.6, a precipitous decrease from a reading of 50.5 the previous month. This score reflects a sharp decrease in demand for design services. The new projects inquiry index was 55.0, down from a mark of 58.7 in March, but still at a healthy level.

Regional averages: Northeast (51.2), Midwest (51.1), South (48.3), West (47.7)

Sector index breakdown: multi-family residential (53.9), commercial / industrial (49.9), institutional (45.9) mixed practice (45.2). Project inquiries index: 55.0.

The Architecture Billings Index (ABI), produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine to twelve month glimpse into the future of nonresidential construction spending activity.

http://www.worldconstructionnetwork.com/news/aia_announces_dip_in_architecture_billings_index_in_april_2011_110520/