The AIA semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, projects a 6.2% increase of spending in 2013. Even with the array of obstacles preventing a full scale recovery for the overall U.S. economy, AIA states that the design and construction industry appears to have reasons to be cautiously optimistic for the near and mid-term future.
A sharp spike in demand for industrial facilities so far this year, along with sustained demand for hotels and retail projects factors into what projects to be a 4.4% rise in spending this year for nonresidential construction projects - up from a projection of a 2.1% increase in the January Consensus Forecast.
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