AIA forecast predicts 4.4 percent rise in nonresidential construction spending in 2012

A sharp spike in demand for industrial facilities, along with sustained demand for hotels and retail projects, could translate into a 4.4 percent rise in nonresidential construction spending this year, according to the American Institute of Architects semi-annual Consensus Construction Forecast. The survey of leading U.S. construction forecasters also projects a 6.2 percent increase of spending in 2013.