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
High-rise Construction | Jul 9, 2013
5 innovations in high-rise building design
KONE's carbon-fiber hoisting technology and the Broad Group's prefab construction process are among the breakthroughs named 2013 Innovation Award winners by the Council on Tall Buildings and Urban Habitat.
| Jul 8, 2013
RSMeans cost comparisons: offices, daycare centers, convenience stores, fast food
Construction market analysts from RSMeans offer construction costs per square foot for offices, daycare centers, convenience stores, fast food.
| Jul 8, 2013
RSMeans cost comparisons: hotels, motels, and apartment buildings
Construction market analysts from RSMeans offer construction costs per square foot for hotels, motels, and apartment buildings.
| Jul 3, 2013
Mid-year special: Top 13 stories for 2013 (so far)
Every six months, we like to take a look back at the stories that generated the most interest from our readers. Here's a roundup of the top 13 articles on BDCnetwork.com for the first six months of 2013.
| Jul 3, 2013
World's biggest freestanding building opens in China
Measuring a stout 100 meters high, 500 meters long, and 400 meters wide, the New Century Global Centre in the Tianfu New District of Chengdu, China, is officially the world's largest freestanding building.
| Jul 3, 2013
Mall of America will double in size after $2.5 billion expansion
The nation's largest indoor mall will undergo a $2.5 billion, 10-year expansion project that will add attractions like an NHL-sized skating rink and an indoor water park.
| Jul 2, 2013
LEED v4 gets green light, will launch this fall
The U.S. Green Building Council membership has voted to adopt LEED v4, the next update to the world’s premier green building rating system.
| Jul 1, 2013
Brasfield & Gorrie expands footprint in the Southeast
Brasfield & Gorrie, one of the nation’s largest privately held construction firms, opens the doors to its new office in Columbus, Georgia, today. Although the firm has worked in the area for more than 20 years, this is its first office within the city’s limits.
| Jul 1, 2013
Lovejoy is new Director of Business Development, Healthcare at McCarthy
McCarthy Building Companies, Inc., one of California’s preeminent builders, announced that Jeffrey Lovejoy has joined the firm as director of business development, healthcare services. Lovejoy replaces Scott Lawrence who has moved into the role of project director, commercial services for McCarthy.
| Jul 1, 2013
Firestone Building Products Company LLC Announces Sustainability Report
Firestone Building Products Company, LLC, the leading manufacturer of superior “Roots to Rooftops” products for commercial building performance solutions, today announced the release of its 2012 Sustainability Report. The report, the first for Firestone Building Products Company, covers the fiscal 2012 year and is available for download at firestonebpco.com.
