AIA Predicts National Building Rebound in 2012 Led by Hotel Sector
According to a recent report posted by Reuters, the American Institute of Architects (AIA) is predicting that nonresidential construction across the USA will improve in 2012, led by offices, retail and hotels. National overall nonresidential spending is expected to rise 6.4 percent in 2012, a slightly stronger recovery than the organization forecasted six months ago. In 2012, spending on hotel construction across the country is seen rising 18 percent. The AIA report said national spending on factories and other industrial buildings will rise 8.4 percent; office buildings up 9.8 percent; and retail up 11.8 percent. The AIA forecasted more modest national recoveries next year in institutional categories that include churches, schools and healthcare facilities. The AIA Consensus Construction Forecast Panel is conducted twice a year with leading nonresidential construction forecasters, including McGraw Hill Construction, IHS-Global Insight and Moody's economy.com.