AIA’s monthly Architecture Billings Index (ABI) for August came in at a score of 47.2. This is a 2.9-point decrease from July’s score of 50.1, a markedly downward swing. 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.