Index suggests construction activity could falter
Wednesday, May 22, 2013 11:57 AM
Lack of financing for projects is being blamed for the first negative reading in nine months on an index that typically forecasts construction activity nine months to a year in advance. The American Institute of Architects said its billings index fell to 48.6 percent in April, led by declines in the Midwest and Northeast. A reading of 50 and above indicates an increase in requests for design services.