01/15/2010

Another Steep Decline in Nonresidential Construction Activity Projected for 2010

 
Another Steep Decline in Nonresidential Construction Activity Projected for 2010
Despite signs that the overall U.S. economy is beginning to improve, nonresidential construction spending is expected to decrease by 13.4 percent in 2010 with a marginal increase of 1.8 percent in 2011, according to the American Institute of Architects’ semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters.

Commercial and industrial projects will continue to see the most significant decrease in activity, but institutional building categories will fare better over this period due in part to federal stimulus spending.

“When economies emerge from this prolonged recession, recovery for nonresidential construction activity typically takes longer,” says Kermit Baker, chief economist for AIA. “Hardest hit will be the commercial and industrial sectors with projected declines in the 20 percent range for 2010 in most building categories. Led by the healthcare market, the institutional sector will see far less dramatic declines and should help lead the construction industry into recovery in 2011.”

Further details from the Consensus Construction Forecast can be found at http://info.aia.org/aiarchitect/thisweek09/1218/1218b_consensus.cfm.
 


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Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

Bluebeam® Revu® simplifies digital facilities document management from design review to leveraging as-builts, maintenance manuals and O&Ms submittals.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


 
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