The latest data from the American Institute of Architects show that the Architecture Billings Index moved from 47 in September to 47.5 in October, showing a similar pace of decline. (A score below 50 indicates decreasing billings.) Design inquiries rose from 57.2 to 59.1; contracts, from 48.9 to 51.7. 

“Though still in negative territory, the moderating billings score along with the rebound in design contracts and inquiries provide some guarded optimism,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “The pace of recovery will continue to vary across regions and sectors.”