Welcome to 2011! It seems that things are finally looking up for our industry. FMI has spent 50 years studying the cycles of this industry and it is gratifying to see some good news. To learn more about what is happening and how it affects your business, I have three items that I would encourage you to review.
The first is our 2011 first quarter NRCI (Non-Residential Construction Index), a survey of industry CEOs and their outlook of the future, which reports the highest score we have recorded since we started this Index in the 4th quarter of 2007, as the economy entered what came to be known as the Great Recession. Along with our quarterly look at the markets for this quarter, we asked our NRCI panelists to give us their expectations for hiring in 2011, as well as their experience with regulatory “red tape” in construction and their opinions about how the 2010 elections will affect the construction industry in the foreseeable future. You can read their responses in the full report.
Secondly, our 2011 U.S. Construction Markets Overview is a comprehensive report on vital construction trends and forecasts of each market segment. This tool has proven to be instrumental for many of our clients as they plan their future. We are now seeing senior managers emerge with the realization that their companies cannot march in place for the next few years. They must plan, retool and implement new strategies in earnest. Take some time to read this and reflect with us on its implications.
Lastly, I have included a brief video that highlights my recommendations for what every company should be doing in 2011 as we begin our slow crawl out of this recession. Based upon our consulting experiences and our clients’ successes, this tells you where to focus your efforts right now.
Let us know your thoughts on any or all of this. Until next time …