As U.S. building market segments continue to struggle, there is a bright spot on the horizon for the house of worship market.
According to the latest data released last month by the American Institute of Architects (AIA), religious buildings will be the top performing non-residential construction sector in 2010.
“The AIA forecast information is a breath of fresh air for product and service providers to the house of worship market, and to congregations who are considering a building project,” says Brian Blackmore, publisher and editor-in-chief of Worship Facilities Magazine and Church Production Magazine. “With other markets reeling from the lack of confidence in the economy, the AIA data provides assurance that houses of worship represent a more reliable sector, with less volatility than other construction segments-something many businesses are looking for these days.”
The AIA Consensus Construction Forecast Panel released this data in a report that includes projections of business conditions in the construction industry over the coming 12 to 18 months.
Data is compiled from the leading nonresidential construction forecasters in the United States, including McGraw-Hill Construction, Global Insight, Moody’s economy.com, Reed Business Information, and FMI. The AIA Consensus Construction Forecast Panel has been conducted for the past 11 years.
