After Five Consecutive Months of Positive Readings, Billings Index Slips Below 50 in April

The Architecture Billings Index, a leading indicator of U.S. construction activity nine to 12 months into the future, fell 2 points to 48.4 in April. Any reading above 50 is said to indicate expansion, while any reading below 50 is said to indicate a decline in the demand for design services. This drop into negative terrain came after 5 consecutive months of positive readings. According to AIA chief economist Kermit Baker, the decline in demand for design services isn’t too surprising, considering the overall volatility of current economic conditions and a slow recovery. To read more, click here.