ABI Reverts Into Negative Territory for First Time in Nine Months
After indicating increasing demand for design services for the better part of a year, the Architecture Billings Index reversed course in April. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag between architecture billings and construction spending.
The American Institute of Architects reported the April ABI score was 48.6, down from a mark of 51.9 in March. This score reflects a decrease in demand for design services (any score above 50 indicates an increase in billings) and is the lowest mark since July 2012. The new projects inquiry index was 58.5, down from the reading of 60.1 the previous month.