Despite signs that the overall U.S. economy is beginning to improve, nonresidential construction spending is expected to decrease by 13.4 percent in 2010 with a marginal increase of 1.8 percent in 2011 in inflation adjusted terms.* Commercial and industrial projects will continue to see the most significant decrease in activity. Institutional building categories will fare better over this period due in part to federal stimulus spending. “When economies emerge from this prolonged recession, recovery for nonresidential construction activity typically takes longer,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Hardest hit will be the commercial and industrial sectors with projected declines in the 20 percent range for 2010 in most building categories. Led by the healthcare market, the institutional sector will see far less dramatic declines and should help lead the construction industry into recovery in 2011.” *Highlights from the American Institute of Architects (AIA) semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters.
News categoriesAll News >
How one art consignment found a unique corner of the e-market
Illinois IKEA receives LEED certification
This platform aims to make designers' supply chain simpler
Dedar unveils first-ever U.S. showroom in the D&D BuildingShowroom Openings | 4:28Dedar unveils first-ever U.S....
ASID's inaugural Design Honors event celebrates makersSpecial Events | 4:01ASID's inaugural Design Honors...
How Nicole Gibbons went from Blogger to VC Darling
Inside Parachute Home’s Community-Focused Expansion Plans
From Bankruptcy to IPO, How Shawn Nelson Built the Country's Fastest-Growing Furniture Retailer
How Ralph Pucci Became the Master of Visual Merchandising
- In Print
- Tag Sale
Lights.com Home Lighting CollectionLights.com
Pennoyer Newman Modern & Industrial CollectionPennoyer Newman
Thomas Paul's Collection 2Siren Song