What will the new year bring? According to various groups that
track the construction industry, 2007 will be a pretty good
The American Institute of Architects (AIA) is expecting 6.2
percent growth in nonresidential construction. According to the AIA
Consensus Construction Forecast Panel, the growth—if
realized—would be the best performance for nonresidential
construction during a two-year period since 1997-98.
And other organizations seem to agree though not all anticipate
2007 posting gains as significant as the panel suggests. For
example, McGraw-Hill Construction, New York, and FMI, Raleigh,
N.C., which are part of the AIA panel, are more conservative in
their individual projections; McGraw-Hill Construction is
predicting a 4 percent growth in nonresidential construction in
2007, and FMI is expecting growth of 5.7 percent, according to
The AIA Consensus Construction Forecast Panel says it expects
gains of 5 percent for commercial facilities and more than 7.5
percent for industrial facilities during 2007. In addition, the
panel expects a 4 percent increase in retail construction, 6.5
percent increase in hotel construction, 7.4 percent increase in
educational facility construction and 5 percent increase in
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