Housing Market - large home sold Photo by Drew Angerer/Getty Images News

Forecasters Temper Optimism in AIA’s Updated Consensus Construction Forecast

Some slowdown in the commercial sector was anticipated for 2017 and 2018, it was expected to be offset by acceleration in the institutional sector. However, year-to-date growth in spending for institutional buildings is at only 3%.

The updated AIA Consensus Construction Forecast projects annual growth in the 3.5% to 4% range for the remainder of 2017 as well as for 2018, with a slower growing commercial/industrial market, and an institutional sector facing several challenges. While a press release issued by the American Institute of Architects (AIA), Washington, D.C., said some slowdown in the commercial sector was anticipated for 2017 and 2018, it was expected to be offset by acceleration in the institutional sector. H

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