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
Giants 400 | Aug 28, 2019
Top 45 Data Center Construction Firms for 2019
Whiting-Turner, Turner, Holder, DPR, and Fortis top the rankings of the nation's largest data center sector contractors and construction management firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
AEC Innovators | Aug 27, 2019
7 AEC industry disruptors and their groundbreaking achievements
From building prefab factories in the sky to incubating the next generation of AEC tech startups, our 2019 class of AEC Innovators demonstrates that the industry is poised for a shakeup. Meet BD+C’s 2019 AEC Innovators.
Giants 400 | Aug 16, 2019
2019 Healthcare Giants Report: The ‘smart hospital’ is on the horizon
These buildings perform functions like a medical practitioner. This and more healthcare sector trends from Building Design+Construction's 2019 Giants 300 Report.
AEC Innovators | Aug 15, 2019
Oracle’s replica of a construction jobsite creates an immersive environment for AEC professionals
The Oracle Construction and Engineering Innovation Lab allows visitors to walk through five different stages of construction work, to test new AEC technologies and training techniques.
Giants 400 | Aug 13, 2019
2019 Science + Technology Giants Report: Operational flexibility is a must for S+T buildings
The science and technology (S+T) sector is arguably the industry’s most complex because it caters to a diverse clientele with specific priorities and imperatives, according to Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 8, 2019
Top 110 Office Sector Construction Firms for 2019
Turner, STO Building Group, AECOM, Clayco, and Clark lead the rankings of the nation's largest office sector contractors and construction managers, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 8, 2019
2019 Office Giants Report: Demand for exceptional workplaces will keep the office construction market strong
Office space consolidation and workplace upgrades will keep project teams busy, according to BD+C's 2019 Giants 300 Report.
Museums | Jul 29, 2019
A new museum debuts inside the Empire State Building
A $165 million, 10,000-sf museum opened on the second floor of the Empire State Building in New York City, completing the second of a four-phase “reimagining” of that building’s observatory experience, which draws four million visitors annually.
Multifamily Housing | Jul 23, 2019
Is prefab in your future?
The most important benefit of offsite construction, when done right, is reliability.
Healthcare Facilities | Jul 15, 2019
Can a kids’ healthcare space teach, entertain, and heal?
Standard building requirements don’t have to be boring. Here’s how you can inject whimsical touches into everyday design features.
