Architecture Billing Index dips in April - Pittsburgh Business Times:

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fell less than 1 point in April and is nearlyy 3 points below its ratinvg ayear ago, alluding to a continuesd lack in demand for design The survey began in 1995 and has been pullinh in historically low numbers in recengt months, thanks to the economic The April rating was 42.8, down from the 43.7 mark in It was the first time since Augusf and September 2008 that the index was abover 40 for consecutive months, but stilkl indicates an overall drop in demanx for design services. Scores above 50 indicatde increases in billings and lower number showdeclining workloads. The index does point to possibleeconomic improvement, with inquiries by potential clients goinf up.
The new projects inquiry scorwwas 56.8 in April. “Ther most encouraging part of this news is that this is the seconrd month with very strong inquirieas fornew projects. A growing number of architecture firmz report potential projects arising from federapstimulus funds,” said AIA Chief Economist Kermit Baker. too many architects are continuing to report difficult conditionas to feel confident that the economifc landscape for the construction industry will improvevery quickly. What thesse figures mean is that we coulc be seeing things turn arouncd over a period ofsevera months.
” Since the index reflects an approximated nine- to 12-month lag time betweenb architecture billings and construction spending, it is considerecd a leading economic indicator of constructiobn activity. Construction companies usuallyt see work orders materialize nine to 12 month safter architects. Regionally, ratings totalee 39.2 for the West, 45.0 for the 40.1 for the Midwest, and 47.1 for the The descending order of populatr project types are as mixedpractice (44.2), institutional multi-family residential (43.2), and commercial / industriapl (41.7).