91视频

By Brian Johnson
91视频 Newswires

Spending on nonresidential buildings will increase more than 7% this year, but market challenges will limit growth to 2% in 2025, according to the 鈥� newly released midyear .

The 鈥渃hallenging lending market for construction projects, continued weakness in commercial property values, and ongoing softness in billings at architecture firms contribute to the slowdown,鈥� AIA said in a press release.

In the report, AIA predicts the following: Commercial facilities activity will be flat this year and next year; manufacturing will increase 14% and stabilize in 2025; institutional construction will see a more than 10% gain this year and slow to 4% in 2025.

鈥淭he disparity in sector performance highlights the uneven economic conditions and ongoing market uncertainties,鈥� AIA Chief Economist Kermit Baker said in the release. 鈥淒espite the challenges, specific sectors like manufacturing construction are showing strong ongoing activity from the surge in projects that started during the pandemic, while most institutional sectors are seeing reasonably healthy gains, fueled by the education market.鈥�