AIA Construction Forecast Improves in July

The biannual AIA Consensus Construction Forecast, which registers confidence in non-residential construction spending, expects a decline of 3.9% for the remaining months of 2021, an improvement over the 5.7% decrease predicted back in January. Healthcare facilities are estimated to have the most growth for the remainder of 2021, up 1.4%. Non-residential construction in 2022 is projected to see a spending increase of 4.6%, but inflation, supply-chain and labor issues, as well has a potential housing price bubble are seen as potential problems that could affect spending next year. See AIA