FMI issues Q1 Construction Outlook
Group forecasts a 7 percent increase in engineering and construction spending in 2018.
FMI’s forecast, the FMI Construction Outlook, forecasts an increase of total engineering and construction spending for the U.S. of 7 percent in 2018, compared to 4 percent in 2017.
Spending growth in 2018 is forecast to be led by residential and select nonresidential segments. Current top-three-performing segments forecast in 2018 include:
- Residential improvements (+12 percent)
- Single-family residential (+7 percent)
- Office (+9 percent)
The bottom-three-performing segments include:
- Religious (-4 percent)
- Sewage and waste disposal (-1 percent)
- Water supply (-3 percent)
Growth in several segments appears to be flattening out or stabilizing in 2018, including two prior high-growth segments from 2017, multifamily residential and lodging. Other stabilizing segments include manufacturing, power and highway and street, all three of which were down through 2017.
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CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
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