Slower growth in the general economy is putting downward pressure on the U.S. construction industry, whose sectors expanded last year by 20% or more but are moderating to single-digit growth levels. The AlA's semiannual Consensus Construction Forecast Panel expects building construction spending to increase by just under 6% through 2017. Kermit Baker, Hon. AIA, the AlA's Chief Economist, notes that job growth, consumer confidence, low interest and inflation rates, and a trending single-family housing market offer positive economic signs.
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