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Residential Construction Expected to Decline 19 Percent in 2009
FMI forecasts 1 percent decline in 2010
news release
June 29, 2009
HousingZone
FMI, management consultants and investment bankers for the construction industry, has released its Construction Outlook: Second Quarter 2009 Report. FMI’s Construction Outlook, a quarterly, construction-market forecast and supplement to the U.S. Markets Construction Overview FMI has produced for the past 30 years, forecasts total construction in 2009 and 2010 will be down 13 percent and 7 percent, respectively. Last quarter the outlook for construction was described as just plain ugly and unfortunately, this still holds true.
Report highlights include:
• Residential construction will decline 19 percent in 2009 and 1 percent in 2010. • Nonresidential construction will turn negative this year and decline 14 percent with even further declines of 17 percent in 2010.
• Nonbuilding construction will continue to be the only bright spot, increasing 4 percent per year in 2009 and 2010.
• The economy may show some signs of improvement, but it is just the beginning of the downfall for nonresidential construction.
Heather Jones, a construction economist for FMI’s Research Services Group, is responsible for design, management and performance of primary and secondary market research projects and related research activities, including economic analysis and modeling, construction market forecasting and database management. Her particular expertise is in the areas of market sizing and modeling, competitive analysis, sales and market performance evaluations, buying practices and trend analysis.
For more information about FMI’s Construction Outlook: Second Quarter 2009, visit www.fminet.com. Download the full report here.
About FMI
FMI, management consultants and investment bankers to the construction industry, delivers innovative solutions to contractors, architects and engineers, construction materials producers, manufacturers and suppliers of building products and construction equipment, private owners, residential builders, utilities, government agencies, surety companies and trade associations.
FMI’s management consulting practice provides a wide array of services, including strategy, training and talent development, leadership and organizational development, market research, project execution, business development and compensation consulting. FMI’s investment banking practice provides merger and acquisition advisory services, capital placement and financial advisory services.
Founded in 1953, FMI is headquartered in Raleigh, N.C., and has offices in Denver, Phoenix and Tampa, Fla. For more information, visit www.fminet.com.
© 2009, Reed Business Information, a division of Reed Elsevier Inc. All Rights Reserved.
