Nonresidential Construction Spending Expected to Increase through 2012 with Stronger Growth Projected for 2013

Date: 15 August 2012
Source: www.aia.org

Date: 15 August 2012

Washington, D.C. – August 2, 2012 – Even with the myriad of obstacles preventing a full scale recovery for the overall U.

S. economy, the design and construction industry appears to have reasons to be at least modestly optimistic in the coming months and into next year.  A sharp spike in demand for industrial facilities so far this year, along with sustained demand for hotels and retail projects factors into what projects to be a 4.4% rise in spending this year for nonresidential construction projects – up from a projection of a 2.1% increase in the January Consensus Forecast.  The American Institute of Architects (AIA) semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, also projects a 6.2% increase of spending in 2013. More.Washington, D.C. – August 2, 2012 – Even with the myriad of obstacles preventing a full scale recovery for the overall U.S. economy, the design and construction industry appears to have reasons to be at least modestly optimistic in the coming months and into next year.  A sharp spike in demand for industrial facilities so far this year, along with sustained demand for hotels and retail projects factors into what projects to be a 4.4% rise in spending this year for nonresidential construction projects – up from a projection of a 2.1% increase in the January Consensus Forecast.  The American Institute of Architects (AIA) semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, also projects a 6.2% increase of spending in 2013. 

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