Uneven Growth Persists Across Nonresidential Construction as Economic Uncertainty Lingers

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The nonresidential construction market continued to face headwinds during the first five months of 2026 as spending fell 7 percent in nominal dollars compared to the same period a year earlier. Reflecting this softer market performance, the AIA Consensus Construction Forecast Panel lowered its 2026 projection from a 1.0 percent increase in spending, forecast in January, to a 0.3 percent decline. Despite near-term challenges, panelists expressed greater confidence in a rebound next year, increasing their 2027 spending forecast from 2.2 percent to 3.0 percent. Manufacturing construction experienced the most significant downward revision in the current forecast. Spending in the sector … Read more

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Nonresidential Construction Spending Projected to Increase through 2023

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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

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