FMI released their First Quarter 2019 North American Construction Outlook which features comprehensive construction forecasts for the U.S. and Canada as well as information on key market drivers.
Key highlights of the report include:
- Total engineering and construction spending for the U.S. is forecast to end up 3 percent in 2019, compared to up 4 percent in 2018.
- Spending growth in 2019 is expected to be led by public investment across both nonresidential buildings and nonresidential structures. Current top-performing segments forecast in 2019 include transportation (+9 percent), public safety (+6 percent), educational (+5 percent) and manufacturing (+5 percent). Forecast bottom-performing segments in 2019 include religious (-5 percent), multifamily (-5 percent) and lodging (-2 percent).
- Key segments that were upgraded into our growth category going into 2019 include educational, manufacturing, and highway and street. Various others appear to be stabilizing this year, including three prior growth segments from 2018: single-family residential, amusement and recreation, and sewage and waste disposal.
- Both lodging and multifamily were adjusted into our down category this quarter with anticipated declines realized through the remainder of the year.
To access the Q1 2019 FMI Outlook, featuring FMI’s latest forecasts for US and Canada, visit: https://www.fminet.com/industry-outlooks/