RALEIGH, NC, July 02, 2021 /24-7PressRelease/ — FMI Corporation, a leading provider of consulting and investment banking services to the built environment, released today the 2021 third 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 2%, compared to up 5% in 2020.
• Strong growth in residential investment, especially within single-family and improvements, will again uphold industry spending levels in 2021. Water supply is the only nonresidential segment expected to grow in 2021, with an anticipated gain of more than 5%.
• The latest Nonresidential Construction Index (NRCI) feedback suggests continued and increased optimism heading into the third quarter of 2021, at 59.7, up from 54.4 in the prior quarter. The index shows strong momentum since the first quarter of 2021, well within expansionary territory, surpassing the growth threshold of 50. The most recent reading is in the range of scores collected between 2011 and 2018, suggesting increased engineering and construction 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.