FMI's 2013 Third Quarter Nonresidential Construction Index report shows a NRCI score of 60.3, a .2-point improvement over Q2.
Although the numbers aren’t drastically rising, the sustainability and continuing upward movement is encouraging. This score remains the highest score for the NRCI index since Q1 2009. The index for the overall economy rose to 72 points and the combined index sentiment for economies where panelists are doing business rose 3.2 points.
Cost of construction materials, cost of labor and productivity continue to hold down the index. Additionally, investments in technology, equipment and training are needed to keep the economy from going stagnant.
Panelists for this quarter’s NRCI suggest that the uncertainty for investments is a result of the immigration/labor bills, delays in implementation of “Obamacare” and the impact of residential growth on nonresidential construction. These issues are causing the industry to sit back and wait to see the outcomes before making any risky investments.
To download a copy of the full report, click here.
CLICK CHARTS TO ENLARGE
About FMI
FMI is a leading provider of management consulting, investment banking and research to the engineering and construction industry. We work in all segments of the industry providing clients with value-added business solutions. Founded by Dr. Emol A. Fails in 1953, FMI has professionals in offices across the U.S. FMI delivers innovative, customized solutions to contractors; construction materials producers, manufacturers and suppliers of building materials and equipment, owners and developers, engineers and architects, utilities, and construction industry trade associations. FMI is an advisor you can count on to build and maintain a successful business, from your leadership to your site managers. For more information, visit www.fminet.com.
Related Stories
Construction Costs | Feb 22, 2024
K-12 school construction costs for 2024
Data from Gordian breaks down the average cost per square foot for four different types of K-12 school buildings (elementary schools, junior high schools, high schools, and vocational schools) across 10 U.S. cities.
MFPRO+ Special Reports | Feb 22, 2024
Crystal Lagoons: A deep dive into real estate's most extreme guest amenity
These year-round, manmade, crystal clear blue lagoons offer a groundbreaking technology with immense potential to redefine the concept of water amenities. However, navigating regulatory challenges and ensuring long-term sustainability are crucial to success with Crystal Lagoons.
AEC Tech | Feb 20, 2024
AI for construction: What kind of tool can artificial intelligence become for AEC teams?
Avoiding the hype and gathering good data are half the battle toward making artificial intelligence tools useful for performing design, operational, and jobsite tasks.
Building Tech | Feb 20, 2024
Construction method featuring LEGO-like bricks wins global innovation award
A new construction method featuring LEGO-like bricks made from a renewable composite material took first place for building innovations at the 2024 JEC Composites Innovation Awards in Paris, France.
Codes and Standards | Feb 20, 2024
AISC, AIA release second part of design assist guidelines for the structural steel industry
The American Institute of Steel Construction and AIA Contract Documents have released the second part of a document intended to provide guidance for three common collaboration strategies.
Student Housing | Feb 19, 2024
UC Law San Francisco’s newest building provides student housing at below-market rental rates
Located in San Francisco’s Tenderloin and Civic Center neighborhoods, UC Law SF’s newest building helps address the city’s housing crisis by providing student housing at below-market rental rates. The $282 million, 365,000-sf facility at 198 McAllister Street enables students to live on campus while also helping to regenerate the neighborhood.
MFPRO+ News | Feb 15, 2024
UL Solutions launches indoor environmental quality verification designation for building construction projects
UL Solutions recently launched UL Verified Healthy Building Mark for New Construction, an indoor environmental quality verification designation for building construction projects.
MFPRO+ News | Feb 15, 2024
Nine states pledge to transition to heat pumps for residential HVAC and water heating
Nine states have signed a joint agreement to accelerate the transition to residential building electrification by significantly expanding heat pump sales to meet heating, cooling, and water heating demand. The Memorandum of Understanding was signed by directors of environmental agencies from California, Colorado, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, and Rhode Island.
MFPRO+ News | Feb 15, 2024
Oregon, California, Maine among states enacting policies to spur construction of missing middle housing
Although the number of new apartment building units recently reached the highest point in nearly 50 years, construction of duplexes, triplexes, and other buildings of from two to nine units made up just 1% of new housing units built in 2022. A few states have recently enacted new laws to spur more construction of these missing middle housing options.
Green | Feb 15, 2024
FEMA issues guidance on funding for net zero buildings
The Federal Emergency Management Agency (FEMA) recently unveiled new guidance on additional assistance funding for net zero buildings. The funding is available for implementing net-zero energy projects with a tie to disaster recovery or mitigation.
