Economic Stimulus Package Yet To Impact Nonresidential Construction Industry
Posted on Aug 29, 2009 under Construction News |The bottom may be nearing for the nonresidential industry, but growth is not happening yet. FMI Corp’s quarterly survey showed a score of 44.8. A score below 50 shows contraction. The score must be above 50 to indicate growth. There was virtually no change since last quarter. Those that had hoped for a quick recovery are conceding. The goal of contractors at this point appears to be keeping backlogs full, but increased competition is a challenge. Labor and material costs do appear to be stabilizing. With confidence in the economy improving, there is still some optimism that the American Recovery and Reinvestment Act will stimulate the industry at some point. However, cancellations and delays of projects is an ongoing problem for the industry.