Unfavorable business conditions remain, but inquiries by potential clients continue to grow Washington, D.C. — May 20 — After an eight-point jump in March, the Architecture Billings Index (ABI) fell less than a full point in April. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the April ABI rating was 42.8, down from the 43.7 mark in March. This was the first time since August and September 2008 that the index was above 40 for consecutive … Read more

May 4 — Ken Simonson, chief economist for the Associated General Contractors of America issued the following analysis of today's Census Bureau data on nonresidential construction spending: “The increase in nonresidential construction spending for March reported today by the Census Bureau is a reminder that construction is often a lagging indicator of economic activity. Increases in manufacturing construction are being propelled by huge refinery and steel-mill projects that were begun well-before the economic downturn. These large projects are eclipsing broader negative trends. However, as they are completed or scaled back in the coming months, we will get a fuller picture … Read more