Billings for architectural firms continued to decline nationally in February but at its slowest pace since July 2023, according to a leading indicator of construction activity. The moderation of inflation and expected decrease in interest rates are providing optimism for future growth, said Jessica Reinert, AIA Iowa executive director. The AIA/Deltek Architecture Billings Index had a national score of 49.5 in February. Despite the decrease, the modest slowing in decline shows “promising signs … suggesting an upturn in business conditions at firms.” According to the report, Iowa and the Midwest were the only areas of the country to see an increase in billings with scores over 50. Midwest firms reported growth in billings for the last three months and four of the last five, the report stated. Regional and sector scores are calculated as three-month averages and may not average out to the national score. The Midwest score for February was 50.8. Scores for the Northeast, South and West were 44, 47.7 and 47.2, respectively. Index scores by sector in February were: commercial/industrial (46.1); institutional (50.7); mixed practice (firms that do not have at least half of their billings in any one other category) (47.1); and multifamily residential (44.9). The project inquiries index was 56.