Nonresidential Construction Index hits record high

FMI released its second-quarter Nonresidential Construction Index (NRCI) report, giving nonresidential construction its highest score in more than four years after receiving feedback from its panelists. The NRCI score of 60.1 is a two-point improvement over the first quarter of 2013 and represents the highest score for the NRCI index since its inception in the first quarter of 2009.

According to FMI, the score demonstrates that nonresidential construction continues to push upward. However, the index for the overall economy rose 7.9 points and the combined index sentiment for economies where panelists are doing business rose 5.8 points.

Current issues for the NRCI’s second quarter include the effects of sequestration on public and private construction. The majority of the respondents expect only a 0 to 4 percent reduction in their public works projects due to sequestration, though.