Healthy Outlook for Construction Market Despite Rising Challenges

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WASHINGTON, D.C. – After a strong 2015, there is a growing sense that the construction industry expansion will be more tempered over the next 18 months. However, continued strong demand for hotels, office space and amusement and recreation spaces will ensure continued growth in the overall construction spending market over this time period. The American Institute of Architects’ semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, is projecting that spending will increase just less than six percent for 2016, with next year’s projection being an additional 5.6 percent gain. “Healthy job growth, strong consumer confidence and … Read more

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Nonresidential Construction Market Momentum to Continue

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WASHINGTON, D.C. – Construction spending greatly exceeded expectations in the nonresidential market in 2015, and this year should see healthy growth levels as well. There continues to be significant demand for hotels, office space, manufacturing facilities and amusement and recreation spaces. The American Institute of Architects’ semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, is projecting that spending will increase just more than eight percent in 2016, with next year’s projection being an additional 6.7 percent gain. “While rising interest rates could pose a challenge to the U.S. economy, lower energy prices, improved employment figures and … Read more

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