AIA Projects Nonresidential Building Spending To Grow Through 2020
Washington, DC – Nonresidential construction spending on buildings is projected to grow by 4.4 percent through 2019, according to a new consensus forecast from The American Institute of Architects (AIA).
Healthy gains in the industrial and institutional building sectors have bolstered growth projections for 2019; however, the AIA Consensus Construction Forecast Panel—consisting of leading economic forecasters—is suggesting that a broader economic
downturn may be materializing over the next 12-24 months. Learn more about this Consensus Construction Forecast online.
“Though the economy has been performing very well recently, trends in business confidence scores are red flags that suggest a slowdown is likely for 2020,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “These signals may be temporary
responses to negative short-term conditions, but historically they have preceded a more widespread downturn.”
|Market Segment Consensus Growth Forecasts ||2019||2020|
|Overall nonresidential building||4.4%||2.4%|
|Office space||5.1%||1.2% |
|Industrial total ||4.8%||2.7%|
|Healthcare facilities ||4.0%||3.6%|
|Amusement / recreation||4.4%||0.6%|
About The American Institute Of Architects
For over 150 years, members of the American Institute of Architects have worked with each other and their communities to create more valuable, healthy, secure, and sustainable buildings and cityscapes. Members adhere to a code of ethics and professional conduct to ensure the highest standards in professional practice. Embracing their responsibility to serve society, AIA members engage civic and government leaders and the public in helping find needed solutions to pressing issues facing our communities, institutions, nation and world. For more information, visit www.aia.org.