AIA: U.S. Construction Industry to Recover in 2012

The American Institute of Architects announced that U.S. nonresidential construction spending will most likely decline in 2011, but is poised to recover in 2012. Originally predicted to begin in 2011, industry recovery in early 2012 will be led by hotel and retail sectors. Kermit Baker, AIA’s Chief Economist, reports that higher borrowing costs and rising energy prices in 2011 will pose concerns for the architecture and construction industry before a full recovery can take place. Click here to read more.