U.S. Architecture Billings Index falls in April

(Reuters) – The Architecture Billings Index, an indicator of U.S. non-residential building activity, fell in April, the American Institute of Architects (AIA) said on Wednesday.

The index fell to 48.8 in April from 51.7 in March.

A reading above 50 indicates an increase in billings.

The index, based on a survey of U.S. architects, reflects the roughly nine to 12 months between architecture billings and construction spending.

“…April would typically be a month where these projects would be in full swing, but a severe winter in many parts of the Northeast and Midwest has apparently delayed progress on projects,” AIA Chief Economist Kermit Baker said.

Industrial companies and their investors track the monthly index as an indicator of future demand for machinery and components used to construct buildings.

The score for an indicator to measure trends in new design contracts at architecture firms in April was 53.1.

The new projects inquiry index rose to 60.1 in April from 58.2 in March.

(Reporting by Abinaya Vijayaraghavan in Bengaluru)

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