There is cautious optimism for a gradual construction industry recovery amid a backdrop of amid election-year jitters, Congressional gridlock and European debt crisis. Economists are anticipating a modest 2% increase in 2012, followed by a more robust 6.4% gain in 2013. “Spending on hotels, industrial plants and commercial properties are going to set the pace for the construction industry over the next two years,” said Kermit Baker, chief economist with the American Institute of Architects. “The institutional market won’t experience the same growth, but healthcare facilities and places of worship are poised for a positive economic outlook in that sector.” For the full report, CLICK HERE.NAIOP: Cautious Optimism for Recovery in 2013
There is cautious optimism for a gradual construction industry recovery amid a backdrop of amid election-year jitters, Congressional gridlock and European debt crisis. Economists are anticipating a modest 2% increase in 2012, followed by a more robust 6.4% gain in 2013. “Spending on hotels, industrial plants and commercial properties are going to set the pace for the construction industry over the next two years,” said Kermit Baker, chief economist with the American Institute of Architects. “The institutional market won’t experience the same growth, but healthcare facilities and places of worship are poised for a positive economic outlook in that sector.” For the full report, CLICK HERE.
