Healthy outlook for construction market, despite rising challenges

Submitted by mtinder@aia.org on Tue, 07/26/2016 - 12:45
Body
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However, continued strong demand\nfor hotels, office space, and amusement and recreation spaces will ensure\ncontinued growth in the overall construction spending market over this time\nperiod."]]],[1,"p",[[0,[],0,"The\nAmerican Institute of Architects\u2019 (AIA) semi-annual "],[0,[1],1,"Consensus\nConstruction Forecast"],[0,[],0,", a survey of the nation\u2019s leading construction\nforecasters, is projecting that spending will increase just less than six\npercent for 2016, with next year\u2019s projection being an additional 5.6% gain."]]],[1,"p",[[0,[],0,"INFOGRAPHIC:\nTo see each of the panelist\u2019s projections,\n"],[0,[2],1,"click\nhere"],[0,[],0,".\n"]]],[1,"p",[[0,[],0,"\u201cHealthy\njob growth, strong consumer confidence and low interest rates are several\npositive factors in the economy, which will allow some of the pent-up demand\nfrom the last downturn to go forward,\u201d said AIA Chief Economist, Kermit Baker,\nPhD, Hon. AIA. \u201cBut at the same time, the\nslowing in the overall\neconomy could extend to the construction industry a bit \u2013 with the biggest drop\noff expected in the industrial facility sector over the next year and a half.\u201d "]]],[1,"p",[[0,[],0,"\n \n"],[0,[3],1,"Market\n Segment Consensus Growth Forecasts"],[0,[],0,"\n \n \n "],[0,[3],1,"2016 "],[0,[],0,"\n \n \n "],[0,[3],1,"2017"],[0,[],0,"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n "]]],[1,"p",[[0,[3],1,"Overall\n nonresidential building"],[0,[],0,"\n \n \n "],[0,[3],1,"5.8% "],[0,[],0,"\n \n "],[0,[3],1,"5.6%"],[0,[],0,"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n "]]],[1,"p",[[0,[0],1,"Commercial\n \/ industrial"],[0,[],0,"\n \n \n "],[0,[0],1,"11.7 % "],[0,[],0,"\n \n "],[0,[0],1,"6.5%"],[0,[],0,"\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Hotels\n \n \n 17.9% \n \n \n 7.6%\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Office space \n \n \n 14.7% \n \n \n 7.5%\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Retail\n \n \n 7.4% \n \n \n 5.2%\n \n \n \n \n"]]],[1,"p",[[0,[],0,"Industrial facilities\n \n \n -2.1% \n \n \n 2.9%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n "]]],[1,"p",[[0,[0],1,"Institutional"],[0,[],0,"\n \n \n "],[0,[0],1,"4.5% "],[0,[],0,"\n \n \n "],[0,[0],1,"5.8%"],[0,[],0,"\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Amusement \/ recreation \n \n \n 10.0% \n \n \n 5.7%\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Education\n \n \n 6.5% \n \n \n 6.3%\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Healthcare facilities\n \n \n 2.3% \n \n \n 5.0%\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Religious\n \n \n -0.4%\n \n \n 1.9%\n \n \n \n \n "]]],[1,"p",[[0,[],0,"Public safety \n \n \n -3.7%\n \n \n 3.3%\n \n \n\n\n\n\n"]]],[1,"p",[[0,[],0,"\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBaker\nadded, \u201cThe issues that could derail continued expansion in the construction\nsector include: weak U.S. manufacturing output, struggling economies in key\ninternational markets, the ripple effect from the Brexit decision, and the\ntypical uncertainty leading up to a U.S. presidential election that\nresults in reluctant investors.\u201d\n"]]],[1,"h3",[[0,[],0,"\n \n\nAbout\nthe AIA Consensus Construction Forecast Panel\n"]]],[1,"p",[[0,[],0,"\nThe\nAIA Consensus Construction Forecast Panel is conducted twice a year with the\nleading nonresidential construction forecasters in the United States including,\nDodge Data \u0026 Analytics, Wells Fargo Securities, IHS-Global Insight, Moody\u2019s\neconomy.com, ConstructConnect, Associated Builders \u0026 Contractors and\nFMI. The purpose of the Consensus\nConstruction Forecast Panel is to project business conditions in the\nconstruction industry over the coming 12 to 18 months. The Consensus Construction Forecast Panel has\nbeen conducted for 17 years.\n"]]],[1,"h3",[[0,[],0,"\n \n\nAbout The American Institute of Architects\n"]]],[1,"p",[[0,[],0,"Founded in 1857, the American Institute of Architects consistently works to\ncreate more valuable, healthy, secure, and sustainable buildings,\nneighborhoods, and communities. Through nearly 300 state and local chapters,\nthe AIA advocates for public policies that promote economic vitality and public\nwellbeing. Members adhere to a code of ethics and conduct to ensure the highest\nprofessional standards. The AIA provides members with tools and resources to\nassist them in their careers and business as well as engaging civic and\ngovernment leaders and the public to find solutions to pressing issues facing\nour communities, institutions, nation and world. Visit "],[0,[4],1,"www.aia.org"],[0,[],0,".\n\n \n\n\n\n\n\n"]]],[1,"p",[[0,[],0,"\n\n\n\n"]]]]}
Subtitle
More moderate projections than previously reported, with continued slowing in 2017
Contact Name
Scott Frank
Contact Email
sfrank@aia.org
Contact Phone
(202) 626 7462
Description
The Consensus Construction Forecast Panel projects continued slowing in 2017
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[{"updated-date":"2016-07-26T12:45:49+00:00","author-name":"Administrator","author-id":null,"action":"created"},{"updated-date":"2016-08-02T18:10:29+00:00","author-name":"Administrator","author-id":null},{"updated-date":"2016-08-02T18:10:29+00:00","author-name":"Administrator","author-id":null,"action":"published"}]
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