Architecture billings soften again in April, reversing recent stabilization

After coming increasingly close to crossing into growth territory over the last two months, April's new AIA/Deltek Architecture Billings Index, however, reports that the much-anticipated moment of expansion still has not yet arrived, and declining billings would remain the reality for most American architecture firms as economic instability drags on.

Released this morning, the latest ABI score of 48.3 marks a significant drop from the essentially flat readings from March at 49.8 and February at 49.4 (any score below 50.0 indicates a decline in billings compared to the previous month). 

Inquiries into new projects, however, continued to rise for the third consecutive month in April, and the value of new design contracts remained "close to returning to growth."

"April’s economic picture was mixed as employers continued to add jobs, but inflation accelerated as higher energy prices tied to the conflict in Iran drove up costs," AIA Chief Economist Richard Branch summarized the data. "Wh...