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RALEIGH, NC, October 08, 2021 /24-7PressRelease/ — FMI Corporation, a leading provider of consulting and investment banking services to the built environment, released the 2021 fourth quarter edition of the North American Engineering and Construction Outlook.
Key highlights of the report include:
• Total engineering and construction spending for the U.S. is forecast to end 2021 up 3%, compared to up 6% in 2020.
• Strong growth across the residential sector, especially within single-family and improvements, will continue to uphold industry spending levels in 2021. No segments within nonresidential building or nonbuilding structures are expected to realize spending growth exceeding 4% this year.
• Commercial, health care, manufacturing, sewage and waste disposal, and water supply are all expected to end the year with low growth, between 0% and 4%. While these low growth rates are considered stable, they are now meeting or slightly below anticipated inflationary levels for 2021.
• The latest Nonresidential Construction Index (NRCI) feedback suggests ongoing, albeit challenged, optimism heading into the fourth quarter of 2021, at 53.8, down from 59.7 in the quarter prior. The NRCI reflects short-term weakening economic and industry sentiment but remains expansionary and suggests increased opportunities ahead.
The report also details construction spending put in place estimates and forecasts for the U.S. and Canada, as well as details about spending for different regions and construction segments.
About FMI Corporation
FMI is a leading provider of consulting and investment banking services to the built environment, offering current market insights, deep industry research and key relationships that drive real results for our clients. We provide services in the areas of strategy, leadership and organizational development, operations, technology and innovation, mergers and acquisitions, and financial advisory.
For more information, please visit www.fmicorp.com
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