Architectural spending declined for a second straight month, according to the April Architectural Billings Index — although the new projects inquiry index rose.
Compiled by the American Institute of Architects, the ABI is a leading economic indicator for construction: It takes approximately nine months to a year between architecture billings and construction spending.
Despite the decline, AIA chief economist Kermit Baker says there is a “pervading sense of optimism” that business conditions will improve as the year continues.
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