The Architectural Billings Index (ABI) rose from its lowest mark ever of 39.7 in March to 45.5 in April (any score above 50 indicates an increase in billings). “After dropping rapidly the past two months, this uptick shows that the slowdown is beginning to moderate,” says Kermit Baker, chief economist for Washington, D.C.-based American Institute of Architects. “Even though the downturn in design billings has come on very quickly, most areas of the country aren’t showing signs of an oversupply of non-residential facilities. That provides hope that this weak patch may be relatively short-lived.”
The April ABI reported institutional as 50.4, missed practice rated 45.2, commercial/industrial weighed in at 39.3, and multi-family residential came in at 33.5. The inquiries for new projects score was 53.9.