Nonresidential construction spending on buildings is projected to grow by 4.4 percent through 2019, according to a new consensus forecast from The American Institute of Architects.
Healthy gains in the industrial and institutional building sectors have bolstered growth projections for 2019; however, the AIA Consensus Construction Forecast Panel—consisting of leading economic forecasters—is suggesting that a broader economic downturn may be materializing over the next 12-24 months. Learn more about this Consensus Construction Forecast online.
“Though the economy has been performing very well recently, trends in business confidence scores are red flags that suggest a slowdown is likely for 2020,” said AIA Chief Economist Kermit Baker, Hon. AIA, Ph.D. “These signals may be temporary responses to negative short-term conditions, but historically they have preceded a more widespread downturn.”
|Market Segment Consensus Growth Forecasts||2019||2020|
|Overall nonresidential building||4.4%||2.4%|
|Amusement / recreation||4.4%||0.6%|