Latest AIA Construction Forecast: Brighter prognosis for industry in 2014

Slow Down in 2013 Nonresidential Building Activity

Washington, D.C. – July 31, 2013 – With slower than expected activity in the nonresidential construction sector in the first half of the year, the projections for growth in spending have been scaled back.  Led by the hotel and retail project categories, the commercial sector looks largely unchanged, but a noteworthy drop in demand for institutional projects has caused participants in the American Institute of Architects’ (AIA) semi-annual  Consensus Construction Forecast , a survey of the nation’s leading construction forecasters, to reduce projections for spending to a 2.3% increase in 2013, with next year’s projections raised to 7.6%.

“A disappointing recovery of the U.S. economy is limiting need for new nonresidential building activity,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Optimism for a stronger performance next year is based on the recent increase in domestic energy production, the boost to the general economy from a resurgent housing market, and improving employment figures that should help drive demand in the design and construction sectors.”

Market Segment Consensus Growth Forecasts

2013   

2014

 

 

 

Overall nonresidential

2.3%  

7.6%

 

 

 

Commercial / industrial

8.5%  

11.5%

Hotels

17.4% 

15.0%

Retail

8.2%   

11.7%

Office buildings

5.8%   

9.5%

Industrial facilities

4.0%   

6.3%

 

 

 

Institutional

-1.8% 

5.6%

Religious        

1.5%   

6.0%

Healthcare facilities

1.4%   

7.7%

Education

-2.5%  

4.8%

Amusement / recreation

-4.1%

6.5%

Public safety

-4.8%

1.0%

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 14 years.

About The American Institute of Architects
Founded in 1857, members of 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 well being.  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
Email Contact 




Review Article Be the first to review this article

SolidCAM - See For Yourself

Featured Video
Editorial
Latest Blog Posts
Sanjay GangalMCADCafe Lens
by Sanjay Gangal
NVIDIA GTC October 2020 Keynote
Jobs
BIM Designer – Revit for Schneider Electric at Smyrna, Tennessee
BIM Modeler for Woolpert at Oakbrook Terrace, Illinois
Upcoming Events
3D Collaboration & Interoperability Congress at Golden CO - Feb 20 - 24, 2021
RAPID + TCT 2020 Postponed to 2021 at Anaheim Convention Center Anaheim CA - Apr 2, 2021
WESTEC at Long Beach Convention Center CA - Sep 21 - 23, 2021
Kenesto: 30 day trial



© 2020 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise