The industry experts at FMI have released their latest outlook report that provides second quarter 2022 forecasts and estimates for the North American Engineering and Construction industry.
Download FMI’s 2022 North American Engineering and Construction Outlook Second Quarter, and get more information on the key takeaways listed below:
- Total engineering and construction spending for the U.S. is forecast to end 2022 up 7% compared to up 8% in 2021.
- Strong investment in residential and manufacturing will drive industry spending through 2022.
- Year-end 2022 growth will be tempered by ongoing spending declines across various nonresidential building segments, including lodging, office, educational, religious, public safety, and amusement and recreation.
- Commercial, health care, communication, power, and conservation and development are all expected to end the year with low growth, roughly in line with the historical rate of inflation, between 0% and 4%, and are therefore considered stable.
Go more in-depth by reading the full report published by FMI.