Architects billings contract for first time in 4 years

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The American Institute of Architects said its billings index, an indicator of future construction activity, declined over consecutive months for the first time since the summer of 2012. The index dropped to 48.4 in September from 49.7 in August. Any score above 50 indicates an increase in billings. An index measuring inquiries about new projects dropped to 59.4 from 61.8. New work is slowly coming into Iowa firms, AIA Iowa Executive Director Jessica Reinert said in a release. The billings index for the Midwest remained about 50, as it did for the South. “This recent backslide could serve as a warning signal,” Reinert said. “This drop-off in demand could be hesitancy in clients to move forward on projects until the presidential election is decided. The fact that new work coming into Iowa architecture firms continues to slowly increase suggests that billings will resume their growth in the coming months.”