Nonresidential Building Construction Forecast to Decline in 2021 with Recovery in 2022
American Institute of Architects While the construction market held up surprisingly well in the second half of 2020, with only modest declines expected, design activity at architectural firms for new building construction projects continued to weaken, pointing to the potential for further dips in construction activity in 2021. This weakness will contribute to a projected 5.7% decline in overall construction spending, according to a new consensus forecast from the American Institute of Architects (AIA). However, a recovery is anticipated in 2022, with virtually all major building segmen...
Source: forconstructionpros.com