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A recession is defined as when there is negative growth across two consecutive quarters. The UK entered a technical recession in 2023 with GDP shrinking
Construction-starts fell significantly during the three months to October despite a surge in planning approvals, according to latest data from Glenigan Construction Review report. The data, which provides insight into the construction sector performance over the last 12 months, show consistently weak
Baker predicts institutional construction will remain strong for the rest of this year, bolstered mainly by healthcare. Other sectors he expects to see a rebound include hospitality, K-12, and warehouses, albeit at a dampened pace for the third. He also mentions the new AIA Consensus Construction...
Following a 19.7% surge in spending for commercial, institutional, and industrial buildings in 2023, leading construction industry economists expect spending growth to come back to earth in 2024, according to the July 2023 AIA Consensus Construction Forecast Panel.
The American Institute of Architects has published a forecast for nonresidential construction spending for 2023 and 2024, in which it projects positive though modest growth. The AIA Consensus Construction Forecast was computed as an average of nine separate forecasts for nonresidential...