AIA forecast predicts 4.4 percent rise in nonresidential construction spending in 2012

Glass Magazine
August 2, 2012
COMMERCIAL, RETAIL, FABRICATION : FORECASTS
A sharp spike in demand for industrial facilities, along with sustained demand for hotels and retail projects, could translate into a 4.4 percent rise in nonresidential construction spending this year, according to the American Institute of Architects semi-annual Consensus Construction Forecast. The survey of leading U.S. construction forecasters also projects a 6.2 percent increase of spending in 2013.
“With companies looking to bring back manufacturing jobs from overseas, there has been a sharp rise in demand for industrial facilities, which is leading to an upward revision in projections for future construction spending,” said AIA Chief Economist Kermit Baker, in an August 2 release. “Continued budget shortfalls at the state and local level, along with a depressed municipal bond market are holding the institutional market back from seeing similar upticks in spending.”
The AIA semi-annual Consensus Construction Forecast by segment is as follows:
 20122013
Overall nonresidential4.4%6.2%
Commercial / Industrial5.7%10.2%
Industrial12.9%8.1%
Hotels9.5%18.2%
Retail6.2%9.0%
Office buildings4.7%8.7%
Institutional0.7%3.0%
Healthcare facilities4.0%7.5%
Education0.3%1.1%
Amusement / recreation0.1%2.3%
Public safety0.0%0.1%
Religious5.0%3.0%

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