posted on April 3, 2019 at 8:00 am in Economic
FMI has released its North American Construction Outlook: First Quarter 2019 Report.
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.
Total Construction Spending Put in Place 2018 and Forecast Growth
(2018-2023 CAGR) by Metropolitan Statistical Area
Source: FMI Forecast
For the rest of the report, click here.