Our friends at AIArchitect, the news publication of the AIA, have released their findings of their latest economic survey. The news? In the face of a troubled US economy and with factors like $100 barrels of oil and lowering consumer confidence clouding the horizon, it is difficult to imagine that the growth in construction that firms have enjoyed in the past six years will continue unabated. However, the survey notes that the industry is entering 2008 with “a lot of momentum.”
Here’s the key, hopeful point:
While most design firms are likely to face a slowdown over the 2008-2009 period, it is unlikely to turn into a full-fledged downturn like the profession faced in the early 1990s, or even like the downturn earlier this decade.
Read the whole informative article here.