By Eric Jay Toll for Arizona Builder’s Exchange
Construction forecasts this year have been like weather forecasts—there’s a percentage chance of something, we just don’t where or when. The American Institute of Architects has compiled its Consensus Construction Forecast, looking at projections from seven different prognosticators, and released a look at 2014 with projections for 2015.
The nonresidential market, says AIA, has been a “mixed bag” when compared to a year ago. Office building spending was up nearly 19 percent over 2013, hotel markets up 11 percent, but retail and other commercial facilities, as well as manufacturing, are showing single digit growth.
