Backlog in heavy industrial increased sizably in September, spurred by a 21.5% year-over-year increase in manufacturing-related construction spending.
The booking of new projects, plus an even more optimistic outlook on profits and hiring, defies predictions of a recession taking the air out of commercial construction’s recovery.
Recent readings of the Architectural Billings Index, as well as the latest quarterly market forecast from Newton, Massachusetts-based AEC consultant PSMJ Resources indicated that economic storm clouds could be gathering over the sector.
