Raleigh, N.C.-based FMI, management consultants and investment bankers for the construction industry, has released its Construction Outlook: Second Quarter 2009 Report.
FMI’s Construction Outlook, a quarterly construction-market forecast and supplement to the U.S. Markets Construction Overview, forecasts total construction in 2009 and 2010 will be down 13 percent and 7 percent, respectively. Last quarter, the outlook for construction was described as just plain ugly and unfortunately, this still holds true, according to an FMI release.
Report highlights include:
• Residential construction will decline 19 percent in 2009 and 1 percent in 2010.
• Nonresidential construction will turn negative this year and decline 14 percent with even further declines of 17 percent in 2010.
• Nonbuilding construction will continue to be the only bright spot, increasing 4 percent per year in 2009 and 2010.
• The economy may show some signs of improvement, but it is just the beginning of the downfall for nonresidential construction.
Download the full report at www.fminet.com/article/639.
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