News & Press

FMI Projects Strong Industry Results in 3rd Quarter Report

In its recently released “3rd Quarter Construction Outlook” for 2018, industry consultant FMI Corporation projects that total engineering and construction spending for the U.S. will end up 6 percent higher in 2018 compared to 5 percent growth in 2017.

That spending growth is being led by certain market segments, topped by transportation (+13 percent), public safety (+10 percent) and conservation and development (+10 percent). FMI projects that the bottom three- performing segments are religious (-4 percent), power (+2 percent) and manufacturing (+2 percent).

Additional key takeaways from FMI’s 3rd quarterly market forecast:

  • Several segments appear to be strengthening into the third quarter of 2018. These include lodging and water supply, both of which have outperformed expectations according to FMI and are now considered growth segments through 2018.
  • Power spending has increased in recent months, and as a result FMI moved the segment from a projected “down” segment into a stable projection expected to see 2 percent growth through 2018.
  • Two segments that were downgraded by FMI this quarter are educational and religious. Educational spending has been shifted downward to stable at only 3 percent growth. Religious spending has been downgraded from a stable segment to down, with an expected 4 percent decline through the year-end.
 

To read the full FMI 3rd quarter forecast click here.