Architecture Billing Index dips in April - Pittsburgh Business Times:

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fell less than 1 point in April and is nearl 3 points below its rating ayear ago, alludin g to a continued lack in demand for desig services. The survey began in 1995 and has been pullinb in historically low numbers inrecent months, thanks to the economic market. The April rating was 42.8, down from the 43.7 mark in It was the first time since August and Septembe r 2008 that the index was abovr 40 forconsecutive months, but stil l indicates an overall drop in demandd for design services. Scores above 50 indicater increases in billings and lower numbers show declining The index does point to possibleeconomic improvement, with inquiries by potential clients goingv up.
The new projects inquiry scor was 56.8 in April. “The most encouragingy part of this news is that this is the second monty with very strong inquiries for new A growing number of architecture firmsd report potential projects arising from federal stimulus said AIA Chief EconomistKermit “Still, too many architects are continuing to report difficult conditions to feel confident that the economicv landscape for the constructionh industry will improve very quickly. What thesr figures mean is that we could be seeint things turn around over a period ofseveral months.
” Sincee the index reflects an approximatd nine- to 12-month lag time betweenb architecture billings and construction it is considered a leadinh economic indicator of construction activity. Construction companies usually see work orders materialize nine to 12 monthsafter Regionally, ratings totaled 39.2 for the 45.0 for the South, 40.1 for the and 47.1 for the Northeast. The descendingf order of popular project typesx areas follows: mixed practice (44.2), institutiona (43.2), multi-family residential (43.2), and commercialo / industrial (41.7).