RALEIGH, N.C. – April 9, 2021. FMI Corporation, the leading provider of consulting and investment banking services to the built environment, released the 2021 second quarter issue of the North America Engineering and Construction Outlook for the second quarter.
Key highlights of the report include:
- Total engineering and construction spending for the U.S. is forecast to end 2021 down 1% compared to up 5% in 2020.
- Declines in 2021 will be led by decreasing investment in private nonresidential building segments, including the lodging, office, commercial, and amusement and recreation segments. The impact will also extend into multifamily investment via mixed-use development along with reduced transportation, manufacturing, educational and religious spending.
- The latest Nonresidential Construction Index (NRCI) feedback suggests significantly increased optimism heading into the second quarter of 2021, at 54.4, up from 47.1 in the quarter prior. The index has for the first time in a year broken into expansionary territory, surpassing the growth threshold of 50, and suggests increased engineering and construction opportunities ahead.
The report also details construction spending put in place estimates and forecasts for the U.S. and Canada, as well as details about spending for different areas and construction segments.
About FMI Corporation
FMI is the leading provider of consulting and investment banking services to the built environment, offering current market insights, deep industry research and key relationships that drive real results for our clients. We provide services in the areas of strategy, leadership and organizational development, operations, technology and innovation, mergers and acquisitions, and financial advisory.
For more information, please visit www.fminet.com.
Liz Hester, FMI