Commercial
Real Estate News
Commercial, Government Construction in U.S. to Accelerate Through 2019

Commercial, Government Construction in U.S. to Accelerate Through 2019


According to American Institute of Architects, despite labor shortages and rising material costs that continue to impact the construction sector, construction spending for nonresidential buildings in the U.S. is projected to increase 4% this year and continue at that pace of growth through 2019.

The American Institute of Architects semi-annual Consensus Construction Forecast indicates the commercial construction sectors will generate much of the expected gains this year, and by 2019 the industrial and institutional sectors will dominate the projected construction growth.

"Rebuilding after the record-breaking losses from natural disasters last year, the recently enacted tax reform bill, and the prospects of an infrastructure package are expected to provide opportunities for even more robust levels of activity within the industry," said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. "The Architecture Billings Index (ABI) and other major leading indicators for the industry also point to an upturn in construction activity over the coming year."

Market-Segment-Consensus-Growth-Forecasts.jpg

Sponsored by

Comment with Facebook


Copyright 2010 - 2018 WORLD PROPERTY JOURNAL, INC. All Rights Reserved.
Advertisement
News Search
Go


Luxury Property Spotlight

Reader Poll

Advertisement
Featured International Listings
×
WORLD PROPERTY JOURNAL
 
Free News Alerts
 

Sign up now to receive the latest local & global real estate news in your inbox.

GO