June 7, 2013: Nonresidential Construction Index Hits Record High
Two Point Improvement in the Second Quarter
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.