FMI has released its 2014 Third Quarter Nonresidential Construction Index report.
The NRCI shows a decrease of 3.3 points from Q2, but is still above the same time period in 2013. The climbing cost of materials and labor weighed negatively on the index.
Other factors keeping the NRCI from rising are government entities continuing to reduce spending and avoiding making final decisions on the highway bills, and private investors waiting for others to act first.
The good news is that the economy has passed the “survival” stage and is currently in the “thriving” phase.
Backlogs remain strong with expectations of improvement and productivity up slightly.
Thriving in the new economic climate will require companies to not just be the strongest or biggest, but also the most adept at dealing with change.
The full report is available here.
Lift & Access is part of the Catalyst Communications Network publication family.
