Less activity than expected in nonresidential construction during the first part of 2013 — in particular, institutional projects — has caused the participants in the American Institute of Architects’ semi-annual Consensus Construction Forecast to reduce their projections of construction spending for the rest of the year — although they have raised their projection for next year’s spending, to an increase of 7.6%.
AIA conducts the forecast twice a year with a panel of the country’s leading nonresidential construction forecasters, asking them to project business conditions in the construction industry for the next year to year and a half.
“A disappointing recovery of the U.S. economy is limiting need for new nonresidential building activity,” said AIA Chief Economist Kermit Baker. “Optimism for a stronger performance next year is based on the recent increase in domestic energy production, the boost to the general economy from a resurgent housing market, and improving employment figures that should help drive demand in the design and construction sectors.”
For more, visit the following link.
Whatever the economic climate, incorporating energy-efficient designs in your projects reduces operating costs — and can earn the Section 179D deduction (up to $1.80 per square foot). As the country’s leading specialist in this deduction, Concord has the experience, knowledge and capacity to handle any project, at every step of the way. Contact us at 888-897-5445 or via the following link, and find out what Concord can do.