Industrial Insight

Construction | July 31, 2015

  • Spending on nonresidential construction projects will increase by nearly 9% in 2015 and by 8.2% next year, according to a compilation of the predictions of seven leading construction forecasters.
  • The American Institute of Architects’ semi-annual Consensus Construction Forecast showed Wednesday that building of offices and hotels is leading the commercial construction industry to a strong finish to 2015.
  • Spending on nonresidential buildings is expected to reach nearly $360 billion this year and $390 billion in 2016, AIA Chief Economist Kermit Baker said in a release. In “the foreseeable future,” he added, demand for building of healthcare and education facilities will further boost construction spending.
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