The American Institute of Architects (AIA) announced Wednesday that the architecture billings index-an indicator of construction activity in the US-dropped 2.9 points to 47.6 in April.
While the decline appears to be a major setback for the construction market's road to recovery, according to the AIA, firms were negatively impacted by the threat of a federal government shutdown, tornados sweeping through the Southeast as well as less federal stimulus funds available for building activity.
The AIA's index for new projects fell as well-dropping 3.7 points to 55, however any reading about 50 indicates expansion.