FMI: Construction spending to reach $1.04 trillion in 2015
The North American oil and gas industry is driving growth in the industrial market.
Construction industry consultant firm FMI stated in its “2015 U.S. Markets Construction Overview” that 2014 will end with an estimated 7% growth in construction put in place. FMI researchers predict that this rate of growth will continue with a total CPIP of $1.04 trillion in 2015.
Highlights of the report include:
• The North American oil and gas industry is driving growth in the industrial market, but could be draining talent and resources from other sectors.
• Finding and retaining effective leaders, craftsmen and workers remains a challenge, with the marketplace seeking solutions through increased productivity, improved business practices, aggressive recruiting and succession planning.
• Funding for needed heavy civil projects will continue to be challenging.
To purchase a copy of the report, visit http://www.fminet.com/resources.