After a strong 2015, there is a growing sense that the construction industry expansion will be more tempered over the next eighteen months. However, continued strong demand for hotels, office space, and amusement and recreation spaces will ensure continued growth in the overall construction spending market over this time period.
The American Institute of Architects’ (AIA) semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, is projecting that spending will increase just less than six percent for 2016, with next year’s projection being an additional 5.6% gain.