Firm releases annual U.S. Markets Construction Overview.
RALEIGH, N.C. (November 7, 2013) — FMI, a provider of management consulting and investment banking* to the engineering and construction industry, announced the release of its 2014 U.S. Markets Construction Overview. With construction put in place at the end of 2013 expected to be at $909.6 billion, researchers at FMI predict CPIP growth rates to be slightly ahead of the GDP in 2014. Other predictions include the following:
- Residential CPIP is anticipated to grow from $338.2 billion in 2013 to $379.6 billion in 2014.
- Health care CPIP is expected to grow 6 percent in 2014 to $44 billion.
- Transportation construction should finish 2013 with an 8 percent increase; 2014 predictions show a decrease to 7 percent growth.
- Manufacturing construction is on the upturn, expected to grow 4 percent in 2014, after its 2 percent drop in 2013.
- Sewage and waste CPIP should reach $21.3 billion in 2014.
- The shift from shale-gas to shale-oil production has led to projections that the U.S. will produce more oil than it imports by late 2014.
- The federal government’s fiscal difficulties continue to create business uncertainty. Many are worried about the federal debt and the government’s solution to address the problem.
- Implementation of the Affordable Health Act is causing concern, as repercussions are anticipated.
- With baby boomers continuing to retire, succession planning and a search for talent remains one of the industry’s primary challenges.
- Modularization and prefabrication is expected to play an increasingly vital role in improving the productivity of the entire construction value chain.
- As a result of the expansion of the Panama Canal, U.S. coastal infrastructure opportunities will create significant corridors of construction activity starting as early as 2014.
