According to a new report from the American Institute of Architects, the nonresidential building sector is expected to see a healthy rebound through next year after failing to recover with the broader economy last year. The AIA’s Consensus Construction Forecast panel—comprising leading economic forecasters—expects spending on nonresidential building construction to increase by 5.4% in 2022, and accelerate to an additional 6.1% increase in 2023. With a 5% decline in construction spending on buildings last year, only retail and other commercial, industrial and healthcare facilities managed spending increases. This year, only the hotel, religious and public safety sectors are expected to … Read more