Non-Residential Construction Predicted To Soften
Washington, DC, July 16, 2008--U.S. non-residential construction activity is expected to decline further in 2009 after falling this year, the American Institute of Architects predicted on Wednesday.
Amid lower demand for new space, construction activity is projected to decline 1.9 percent this year and 6.7 percent in
2009, according to the AIA.
Below is the breakdown of AIA forecasts for each type of construction.
Commercial and Industrial construction:
2008 2009
Retail -8.3% -9.9%
Office buildings -3.7% -12.3%
Hotels 6.6% -9.9%
Industrial facilities 4.6% -5.5%
Institutional construction:
2008 2009
Health-care facilities 0.2% 1.1%
Education 2.7% -1.1%
Amusement/recreation 3.6% -8.5%
Public safety 5.9% -1.9%
Religious -11.7% -1.2%
Related Topics:The American Institute of Architects