FMI: Residential Will Lead 2018 Construction Spending Growth

FMI Corp.'s 2018 first quarter construction outlook forecasts 7% growth in total U.S. engineering and construction spending, compared to 4% growth in 2017. In FMI's first-quarter outlook, the construction-industry management consultant and investment banker offers comprehensive construction forecasts for a broad range of market segments and geographies across North America, as well as information on key market drivers.

Other highlights of the outlook include:

• Expect spending growth in 2018 to be led by residential and select nonresidential segments. Current top-three-performing segments forecast in 2018 include residential improvements (+12%), single-family residential (+7%) and office (+9%).
• The bottom-three-performing segments include religious (-4%), sewage and waste disposal (-1%) and water supply (-3%).
• Growth in several segments appears to be flattening out or stabilizing in 2018, including two prior high-growth segments from 2017, multifamily residential and lodging. Other stabilizing segments include manufacturing, power and highway, and street, all three of which were down through 2017.

To access the “FMI Construction Outlook 2018, First Quarter Report,” please click here: https://www.fminet.com/construction-outlook/