April’s score for the Architecture Billings Index (ABI) was 48.4. That’s below the “50” dividing line between expansion and contraction.
This was the first down stroke after five straight months of readings of 50 or higher. March’s index was 50.4.
The American Institute of Architects (AIA) noted a decline in the “new projects inquiry index” to 54.4 (from 56.6 in March). Regional averages (each calculated as a three-month moving average) were 51.0 in the Northeast, 50.1 in the Midwest, 49.0 in the South, and 48.0 in the West.
According to AIA, the “Work on the Boards” index, also known as the ABI, concerns nonresidential work only. It is said to be an accurate predictor of conditions nine to 12 months into the future.Tagged with tED