Commercial Construction Outlook 2024. Assess the relevance of the report. After increasing by more than 20% last year, spending on nonresidential buildings will see a much more modest 4% increase in 2024, at a pace that will slow to just over 1% growth in 2025.
Jll expects total construction costs will see a modest growth—between 2 percent and 4 percent—throughout 2024. However, 2024 is projected to bring a more tempered outlook for the construction industry.
The Commercial, Institutional And Industrial Buildings Sector, Which Has So Far Experienced 19.7% Growth In 2023 Will Experience More Mundane Growth (Single Digits) In 2024 —According To A July 2023 Aia Consensus Construction Forecast Panel, Leading Construction Industry Economists Agree.
As a result, the aia consensus forecast panel is projecting a 24% increase in construction spending on hotels this year, and an additional 7% in 2024.
The 2024 Construction Hiring And Business Outlook Report;
5 myths keeping your construction business from growth & profitability.
After An Unusually Strong Performance In 2023, The Construction Sector Will See Weaker Conditions This Year And Next.
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Economic Uncertainty And Continued Headwinds:
The 2024 construction hiring and business outlook report;
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4 charts break down winning, losing sectors in 2024.
After An Unusually Strong Performance In 2023, The Construction Sector Will See Weaker Conditions This Year And Next.