Nonresidential construction will be down 14% in 2009; 17% in 2010, according to FMI report
FMI released its Construction Outlook: Second Quarter 2009 Report, and the outlook isn't good for the nonresidential market. FMI forecasts the market to decline 14% this year and 17% in 2010. FMI says that while the economy is showing some signs of improvement, it is just the beginning of the downfall for nonresidential construction.
Residential construction is expected to fare much better than the nonresidential market in 2010, with a 1% drop, after experiencing a steep 19% drop this year.
Nonbuilding construction will continue to be the only bright spot, increasing 4% per year in 2009 and 2010.
FMI, management consultants and investment bankers to the construction industry, delivers innovative solutions to contractors, architects and engineers, construction materials producers, manufacturers and suppliers of building products and construction equipment, private owners, residential builders, utilities, government agencies, surety companies and trade associations.
FMI’s management consulting practice provides a wide array of services, including strategy, training and talent development, leadership and organizational development, market research, project execution, business development and compensation consulting. FMI’s investment banking practice provides merger and acquisition advisory services, capital placement and financial advisory services.
Founded in 1953, FMI is headquartered in Raleigh, N.C., and has offices in Denver, Phoenix and Tampa, Fla. For more information, visit www.fminet.com.