Healthcare sector to lead construction growth in 2013, 2014

Healthcare is expected to be the strongest institutional sector for construction growth with a projected 4.4 percent increase in 2013.

By Healthcare Facilities Today

Construction of healthcare facilities is projected to increase by 4.4 percent in 2013 and 4.8 percent in 2014, according to an American Institute of Architects (AIA)' report. Healthcare is expected to be the strongest institutional sector. Overall expectations for growth in the institutional sector are 1.2 percent in 2013 and 4.7 percent in 2014.

Growing at a faster rate than the overall U.S. economy, the nonresidential construction industry in general is expected to see increases in activity this year. High demand for hotels and retail projects have the commercial sector pacing what projects to be a rise in spending this year for nonresidential construction projects of 5.0 percent – up from a projection of a 4.4 percent increase in the July 2012 forecast, says AIA. 

The AIA's semi-annual Consensus Construction Forecast , a survey of the nation’s leading construction forecasters, also projects a 7.2 percent increase of spending in 2014. 

Read the report.

January 30, 2013

Topic Area: Architecture , Industry News

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