FMI Corp., a provider of management consulting and investment banking services to engineering and construction, infrastructure and the built environment, recently released of its first quarter 2019 construction outlook. The publication offers comprehensive construction forecasts for a broad range of market segments and geographies in the United States and Canada as well as information on key market drivers.
Key highlights of the report include:
- Total engineering and construction spending for the U.S. is forecast to end up 3% in 2019, compared to up 4% in 2018.
- Spending growth in 2019 is expected to be led by public investment across nonresidential buildings and nonresidential structures. Current top-performing segments forecast in 2019 include transportation (+9%), public safety (+6%), educational (+5%), and manufacturing (+5%). Forecast bottom-performing segments in 2019 include religious (-5%), multifamily (-5%), and lodging (-2%).
- Key segments that were upgraded into FMI’s growth category going into 2019 include educational, manufacturing, and highway and street. Various others appear to be stabilizing this year, including three prior growth segments from 2018: single-family residential, amusement and recreation, and sewage and waste disposal.
- Both lodging and multifamily were adjusted into FMI’s down category this quarter with anticipated declines realized through the remainder of the year.
To access the “FMI North American Construction Outlook,” visit https://www.fminet.com/news/2019/03/28/fmi-releases-north-american-construction-outlook-first-quarter-2019-report/.