Following 5 percent growth in total U.S. engineering and construction spending in 2017 and 2017, FMI predicts another increase of 3 percent this year. Primary growth segments (of 5 percent or more) are expected to include office, educational, public safety, transportation, conservation and development, and manufacturing. Most other segments should roughly match the rate of inflation and therefore be considered stable, but look for the multifamily, lodging and religious markets to experience declines.
Reprinted courtesy of Joanna Masterson, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.