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Saturday, September 24, 2011

FMI Sees Positive Signs in Nonresidential Construction in Second Quarter

The FMI Nonresidential Construction Index moved up 1.4 points to 58.7 for the second quarter, registering in positive territory for the last five quarters.

However, the survey for the third quarter is under way, and FMI expects the NRCI will backslide. Among the many economic pressures that cause this renewed concern are the effects of natural and political disasters just beginning to hit the economy. For an executive summary of the report, click here.

FMI also reported it expects nonresidential construction to drop another 2 percent over 2010 levels to $343.2 billion for 2011, which is close to 2005 (construction-put-in-place) levels. Nonbuilding construction will grow by 3 percent, FMI said. Overall, the market continues to struggle to recover, but, despite the uncertainties, FMI noted that 2011 will be the bottom of the slide and markets will improve for 2012.

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