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 >
1stdibs’s new location hints at where the company is headed
How to streamline new-hire onboarding: 4 designers’ best tips
How online influencers open (offline) shops
Tour Arclinea's new Paris showroomCollection Launches | 1:52Tour Arclinea's new Paris showroom
BOH's Highlights of BIDN’s Panel About InclusionSpecial Events | 1:38BOH's Highlights of BIDN’s Panel...
Kitchen and Bath Industry Show (KBIS)Trade Show
KERRY JOYCE Book Signing & Panel with Tony Freund of 1st DibsStore/Showroom Event
Design Influencers ConferenceIndustry Association Event
Nina Campbell on how the interior design profession has changed
Joanna Saltz explains her vision for the new House Beautiful
Inside Rifle Paper Co.’s next big phase of growth—into home
How Anna and Gregg Brockway became digital leaders in home
- In Print