AIA Says Nonresidential Construction Will Grow 5.6% This Year, With Office Development Surging
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The American Institute of Architects’ latest report predicts nonresidential construction to grow at a 5.6% pace throughout 2017.
While down from last year’s overall 8% growth rate, AIA’s Consensus Construction Forecast Panel said office construction is expected to surge this year and expand at 10.6%, Construction Dive reports. Industrial construction is expected to remain moderate and relatively unchanged from last year’s levels.
The report said today’s tight labor market, with both the national and construction unemployment rates below 5%, is a major challenge in sustaining future construction. To make it easier to find enough labor to support developments, AIA said industry leaders are increasingly calling on President Donald Trump to offer career training as part of any infrastructure program. [CD]