HVAC Breaking News / New Construction Market

June 7, 2013: Nonresidential Construction Index Hits Record High

Two Point Improvement in the Second Quarter

June 7, 2013
RALEIGH, N.C. — FMI, a leader in management consulting and investment banking for the engineering and construction industry, has announced the release of its 2013 second quarter Nonresidential Construction Index (NRCI) report. The NRCI score of 60.1 is a two point improvement over the first quarter and is the highest score for the index since its inception in the first quarter of 2009.

According to FMI, this is not a bullish trend yet, but it demonstrates that the nonresidential market continues an upward push. However, the index for the overall economy rose 7.9 points and the combined index sentiment for economies where panelists are doing business rose 5.8 points. Current issues for the second quarter NRCI include the effects of sequestration on public and private construction. The majority of the respondents expect only a 0 to 4 percent reduction in their public works projects due to sequestration.

Panelists also responded to questions about potential labor shortages after losing more than 30 percent of the construction labor force during the recession. The majority reported few labor shortages at this time. Looking at a year from now, 22 percent of panelists expect severe shortages for construction laborers, as well as shortages for select trades.

Publication date: 6/3/2013

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

ACHRNEWS

NEWS 04-21-14 cover

2014 April 21

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con