The Nonresidential Construction Index from FMI rose two points in Q1. This normally is a positive economic sign. However, construction companies are facing the challenge of having enough people to keep up with increasing backlogs, warns Phil Warner, researcher for FMI.
The engineering and construction executives that comprise the NRCI panel are strongly optimistic about both the economy and their businesses. The diffusion indexes for the overall economy and the geographic economies where individual panelists do business rose more than six points, reaching 78.
The report discusses owners’ views on expectations for 2015 construction put in place, top business challenges for 2015, and employment trends. Lack of a skilled workforce was among the top concerns. Other comments express some political angst.
One panelist expressed, “Need a federal highway bill!” While another panelist said, “Another challenge is the increasing regulatory burdens placed on our clients and in turn our business. Some projects are taking almost two years to clear local planning hurdles. By the time the project is approved, budgets are obsolete, and the project may not be feasible.”
Related Stories
| Oct 14, 2021
Inside the KCI Airport Terminal Workforce Enhancement Program
The construction and development team for Kansas City International airport's new terminal discuss their Strategic Partnership Program to encourage participation by local minority- and women-owned enterprises, and their Work Training Program to train and hire local KC residents for trade jobs on the KCI Terminal project.
| Oct 14, 2021
The future of mass timber construction, with Swinerton's Timberlab
In this exclusive for HorizonTV, BD+C's John Caulfield sat down with three Timberlab leaders to discuss the launch of the firm and what factors will lead to greater mass timber demand.
Contractors | Oct 13, 2021
Chicago-based Pepper Construction named the most innovative company in the construction industry
Firm wins AGC Innovation Award for developing a virtual reality safety training program.
Multifamily Housing | Oct 12, 2021
Affordable and sublime: 13 projects that represent the future of affordable housing
These projects prove that it’s possible to develop aesthetically pleasing, high-quality housing for low-income families, the homeless, and veterans.
Building Owners | Oct 12, 2021
6 ways building owners can own their construction projects
Building owners have an important role in executing their capital projects and can greatly increase their project’s chances of success by understanding and actively managing a few key factors.
Green | Oct 6, 2021
My reaction to the UN IPCC Climate Change 2021 report: Ugh!
The recent report of the UN Intergovernmental Panel on Climate Change is not a happy read.
Contractors | Oct 4, 2021
GE Johnson joins DPR Construction
GE Johnson joined the DPR Construction family of companies. This offers both companies strategic growth and employee development opportunities.
Sponsored | Glass and Glazing | Oct 1, 2021
Specifying Responsibly to Save Birds’ Lives
Realizing sustainable, bird-friendly glass design
Sponsored | Glass and Glazing | Oct 1, 2021
Seizing the Daylight with BIPV Glass
Glass has always been an idea generator. Now, it’s also a clean energy generator.
Architects | Sep 30, 2021
Riding the great AEC resignation wave
More people than ever are reconsidering what work and career mean. What can AEC firms do to recruit and retain workers in this changing workplace environment? Karl Feldman, Partner with Hinge Marketing, discusses ideas and strategies with BD+C's John Caulfield in this exclusive interview for HorizonTV.
