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
Digital Twin | May 24, 2021
Digital twin’s value propositions for the built environment, explained
Ernst & Young’s white paper makes its cases for the technology’s myriad benefits.
Contractors | May 20, 2021
Balfour Beatty’s outreach to veterans pays dividends in leadership and growth
Contracts for work it’s done for the San Diego Unified School District have extended to several disabled vet-owned businesses.
Senior Living Design | May 19, 2021
Senior living design: Post-COVID trends and innovations
Two senior living design experts discuss the latest trends and innovations in the senior living building sector.
Multifamily Housing | May 18, 2021
Multifamily housing sector sees near record proposal activity in early 2021
The multifamily sector led all housing submarkets, and was third among all 58 submarkets tracked by PSMJ in the first quarter of 2021.
Wood | May 14, 2021
What's next for mass timber design?
An architect who has worked on some of the nation's largest and most significant mass timber construction projects shares his thoughts on the latest design trends and innovations in mass timber.
Healthcare Facilities | Apr 30, 2021
Registration and waiting: Weak points and an enduring strength
Changing how patients register and wait for appointments will enhance the healthcare industry’s ability to respond to crises.
University Buildings | Apr 29, 2021
The Weekly Show, April 29, 2021: COVID-19's impact on campus planning, and bird management strategies
This week on The Weekly show, BD+C Senior Editor John Caulfield interviews a duo of industry experts on 1) how campus planning has changed during the pandemic and 2) managing bird infestations on construction sites and completed buildings.
Multifamily Housing | Apr 22, 2021
The Weekly Show, Apr 22, 2021: COVID-19's impact on multifamily amenities
This week on The Weekly show, BD+C's Robert Cassidy speaks with three multifamily design experts about the impact of COVID-19 on apartment and condo amenities, based on the 2021 Multifamily Amenities Survey.
