Spending on nonresidential building construction is expected to increase almost four percent this year and more than two percent in 2020, according to a new consensus forecast from The American Institute of Architects (AIA), Washington, DC. Continued volatility has not impacted construction spending as the projections by the AIA Consensus Construction Forecast Panel -consisting of leading economic forecasters- are largely unchanged from where they stood at the beginning of the year. According to the AIA press conference, while some individual construction sectors are projected to see declines over the next 18 months, the consensus projects overall building construction activity will continue to expand.
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