FMI, a provider of management consulting and investment banking to
the engineering and construction industry, announces the release of The
2013 Second Quarter Nonresidential Construction Index report. The NRCI
score of
60.1 is a 2-point improvement over Q1 and the highest score for the NRCI index since its inception in Q1 2009.
This
isn’t a bullish trend yet, but it demonstrates that the nonresidential
construction market continues to push upward. However, the index for the
overall economy rose 7.9 points and the combined index sentiment for
economies where panelists are doing business rose 5.8 points.
Current
issues for the Q2 NRCI include the effects of sequestration on public
and private construction. The majority of the respondents expect only a 0 to 4 percent reduction in their public works projects due to sequestration.
Panelists for this quarter’s NRCI also responded to questions about potential labor shortages after
losing more than 30 percent of the construction labor force during the
recession. The majority of panelists reported few labor shortages at
this time. Looking at a year from now, 22 percent of panelists expect
severe shortages for construction laborers, as well as shortages for
select tradespeole.
To download a copy of the full report, click here. For reprint permission or to schedule an interview with the author, please contact Sarah Vizard Avallone at 919.785.9221 or savallone@fminet.com.
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