AIA’s monthly Architecture Billings Index (ABI) for April came in at a score of 50.5. This is a 2.7-point increase from last month’s score of 47.8, which had marked the end of a 25-month run of positive billings. The ABI is a leading economic indicator of construction activity in the U.S. and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally, regionally, and by project type. A score above 50 represents an increase in billings from the previous month, while a score below 50 represents a contraction.

“In contrast to 2018, conditions throughout the construction sector recently have become more unsettled,” AIA chief economist Kermit Baker, Hon. AIA, said in a press release. “Though we may not be at a critical inflection point, the next several months of billing data will be indicative of the health of the industry going into 2020.”