A Nonresidential Construction Index score above 50 indicates expansion.
Photo credit: FMI Corp.
FMI announced the release of the 2014 First Quarter Nonresidential Construction Index report (NRCI). The NRCI shows a 7.5 point increase since the 2013 fourth quarter report as well as a 6.8 point increase from Q1 2013. This is the highest NRCI score to date.
The increase in score comes from an optimistic view of a rising economy, as nearly half of the participants expect construction to grow up to 5 percent in 2014. With the increase in growth, executives are eagerly searching for talented individuals to assist and manage industry projects. Panelists with a more moderate view of the growth potential cite some additional challenges in 2014:
- Hiring talented people
- Finding profitable work
- Uncertainty in the direction of the government, especially regarding decisions directly affecting the economy