The latest AIA economic report estimates that spending for nonresidential projects will reach about $360 billion this year and nearly $380 billion next year. Hot times for commercial construction!
The report predicts that commercial and industrial sectors will see the highest growth.
"Today's forecast predicts more significant growth this year than did the previous Consensus Construction Forecast, released in January," ARCHITECT's Caroline Massie notes. "[The previous report] estimated that spending on nonresidential buildings in 2015 would increase by 7.7 percent."