Recovery for Construction Industry Projected to Result in Solid Increases in Spending Levels in 2015 and 2016

Washington, D.C. – Jan 28, 2015 – The nonresidential building market was hamstrung by weather-related delays during the first part of the 2014, but conditions improved dramatically throughout the rest of the year to finish with greater than anticipated spending levels.  The commercial construction sector is now looking at double-digit increases in 2015, led by vigorous levels of demand for hotels and office buildings. 

The American Institute of Architects’ (AIA) semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, is projecting that spending will see a 7.7% increase in 2015, with next year’s projection nudging up to 8.2%.

VIDEO: Q1 2015 Economic Forecast

“This is the first time since the Great Recession that every major building category is projected to see increases in spending,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “But by far, the most significant driver that will fuel greater expansion in the marketplace is the revival in the institutional sector, especially with growing demand for new healthcare and education facilities, which alone traditionally account for a third of spending on new building construction.”

Baker continued, “The overall construction industry appears to be on very solid ground for the next two years.  That said, uncertainties in international economies, potential labor shortages, lower energy costs, rising interest rates and construction costs all are factors that we will be watching closely to see how they may adversely impact the marketplace.”

About the AIA Consensus Construction Forecast Panel
The AIA Consensus Construction Forecast Panel is conducted twice a year with the leading nonresidential construction forecasters in the United States including, McGraw Hill Construction, Wells Fargo Securities, IHS-Global Insight, Moody’s economy.com, Reed Business Information, Associated Builders & Contractors and FMI.  The purpose of the Consensus Construction Forecast Panel is to project business conditions in the construction industry over the coming 12 to 18 months.  The Consensus Construction Forecast Panel has been conducted for 16 years.

About The American Institute of Architects
Founded in 1857, the American Institute of Architects consistently work to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through nearly 300 state and local chapters, the AIA advocates for public policies that promote economic vitality and public wellbeing. Members adhere to a code of ethics and conduct to ensure the highest professional standards. The AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation and world. Visit www.aia.org.

Contact:
Scott Frank
202-626-7467
sfrank@aia.org
http://twitter.com/AIA_Media




Review Article Be the first to review this article
Trimble

Air bus

Featured Video
Jobs
ECAD Designer - Data Connectivity for Delphi at Auburn Hills, MI
Estimator / Bidder for Rulon International at Saint Augustine, FL
Mechanical Engineer II - Requisition ID 090445 for L3 Technologies at New York, NY
Upcoming Events
LiDAR for DRONE 2017, Jun 29-30, 2017, Montpellier, France at Montpellier France - Jun 29 - 30, 2017
International Cartographic Conference 2017 at MARRIOTT WARDMAN PARK HOTEL 2660 Woodley Road NW, Washington District Of Columbia 20008 Washington - Jul 2 - 7, 2017
GI_Forum 2017 at University of Salzburg, Interfaculty Department of Geoinformatics - Z_GIS Hellbrunnerstr. 34 Salzburg Austria - Jul 4 - 7, 2017
2017 Esri Education GIS Conf, July 8 - 11, 2017, Marriott Marquis & Marina, at Marriott Marquis & Marina San Diego CA - Jul 8 - 11, 2017
University of Denver GIS Masters Degree Online
Teledyne:
ESRI 2017
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy