AIA Forecast Finds Nonresidential Construction Will Continue Downward in 2010
Despite signs that the overall U.S. economy is beginning to improve, nonresidential construction spending is expected to decrease by 13.4% in 2010 with a marginal increase of 1.8% in 2011 in inflation adjusted terms, according to the latest American Institute of Architects semi-annual Consensus Construction Forecast.
Commercial and industrial projects will continue to see the most significant decrease in activity, the forecast says. Thanks, in part, to federal stimulus spending, institutional building categories will fare better over this period.