AIA Billings Index Slips to Negative Reading

Washington, DC, May 18, 2012 — The American Institute of Architects billings index fell into negative territory in April, after five months of positive readings, AIA said.

The index, which fell to 48.4 in April from 50.4 in March, often forecasts future construction activity.

“Considering the continued volatility in the overall economy, this decline in demand for design services isn’t terribly surprising,” said Kermit Baker, the architects’ chief economist.