FMI’s latest index another good sign for nonresidential construction

FMI‘s nonresidential construction index climbed 2.6 points in the first quarter this year to reach the 58.1 mark. The 4.5 percent increase is the result of bright spots in the economy, including a positive outlook on hiring.

According to FMI, 45 percent of those on its Nonresidential Construction Index (NRCI) panel expect to increase full-time direct employees by as much as 5 percent this year. Nine percent of panelists expect to decrease their number of full-time direct employees in 2013.

In addition, NRCI panelists are slightly more optimistic than last year at this time for growth in nonresidential construction. Nearly 50 percent expect modest growth for 2013, with 18.4 percent predicting 5 percent industry growth is a possibility this year.