AIA’s architecture billings index – considered a bellwether for future commercial construction – dropped almost 3 points to 47.6% in April. Any reading below 50 indicates a declining demand for architectural services. AIA Chief Economist Kermit Baker reports that this decline is due in large part to the fact that firms are experiencing difficulty obtaining financing for ongoing projects. Of the four regions the West has the lowest reading. This and other economic news can be found via AGC’s Where’s the Work? webpage.