NONRESIDENTIAL BUILDING IMPROVEMENT & REPAIR EXPENDITURES (billion 2005 dollars) 2001 - 2021

NONRESIDENTIAL BUILDING IMPROVEMENT & REPAIR EXPENDITURES (billion dollars) 2001 - 2021

Real (inflation-adjusted) expenditures on improvements and repairs to existing nonresidential buildings are forecast to expand percent per annum through 2016, reversing the declines during the 2001-2011 period Competition from construction of new buildings will spur landlords to make improvements to existing facilities in order to attract tenants Economic expansion over the forecast period will support nonresidential building improvement and repair activity Spending on improvements, which fell almost four percent annually from 2006 to 2011, is expected to rebound through 2016 at a percent annual rate Gains for maintenance and repair expenditures through 2016 are expected to be slower than those for improvements, but they will not be recovering from a sharp downturn With annual increases of percent, maintenance and repair spending growth through 2016 will proceed at a pace similar to that of the previous decade