Perspectives on the Construction Economic Reporting Numbers
Within construction economic reporting there are a lot of numbers thrown around. Recently the American Institute of Architects (AIA) predicted a drop of 11 percent in the amount of non-residential construction in 2009. The following year, the drop in that sector is anticipated to be five percent.
Office and hotel building in 2009, says AIA, will be visited with an 18 and 20 percent drop respectively while retail properties will decline 19 percent and industrial 11 percent.
On the institutional side religious building leads the pack dropping 9.4 percent, and health care and public safety are nearly tied with a drop of three and a half percent.
Sometimes though as we read the construction economic reporting we don’t pay enough attention to the other numbers. Even if the AIA prediction for the decline in 2009 for non-residential construction holds true, and comes in at 11 percent, that still means there is 89 percent of it there. Somebody’s got to build that.
