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FMI’s Nonresidential Construction Index hit 55.5 in the fourth quarter, an increase of less than one point from the third quarter, according to the FMI Fourth Quarter Nonresidential Construction Index report.
FMI is a management consulting and investment banking provider for the engineering and construction industry.
While panelists are a little more positive about national and local economies, optimism about their own businesses’ fiscal strength continues to decline, due in part to a reduction in backlogs, the continued rise of material costs and lower productivity, according to the report.
In FMI’s Fourth Quarter NRCI report, panelists discuss delays and cancellations, changes in project size, energy-related construction activity, market opportunities and experiences with the Office of Federal Contract Compliance.