Nonresidential construction to show modest growth for 2020, 2021


According to a recently published economic report from the American Institute of Architects (AIA), the nation's nonresidential construction sector is expected to see growth of "just 1.5 percent through 2020," with a "less than a one percent increase" projected for 2021.

The report does little to either worsen or assuage long-running fears that a recession may take hold sometime during 2020, and instead offers anemic growth projections for the coming two years.

The Forecast

The prognostication comes from the so-called Consensus Construction Forecast created by AIA that combines economic forecasts for different market sectors from a panel made up of leading market entities, including Moody's, Wells Fargo, and Dodge Data & Analytics. 

For the coming year, the consensus forecast envisions relatively strong growth for the education (3.9%), office (3.0%) and institutional (2.9%) segments, with the strongest growth coming from so-called "public safety" projects, which are projected to grow...

Antonio Pacheco via Archinect - News http://bit.ly/2uBtP2T

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