AIA consensus forecast sees construction spending on rise through next year

Slower growth in the general economy, brought on by seemingly mounting national and international vulnerabilities, is putting downward pressure on the construction industry, whose sectors expanded last year by 20% or more but are moderating to single-digit growth levels.

That’s the viewpoint of the American Institute of Architects’ semiannual Consensus Construction Forecast Panel, which expects building construction spending to increase by just under 6%, its growth rate through the first half of the year, through 2017.