Put-in-Place Construction to Increase 5% Over 2011

Words: Dan KamysPut-in-Place Construction to Increase 5% Over 2011

FMI, the largest provider of management consulting and investment banking to the engineering and construction industry, releases the first-quarter, 2012 Construction Outlook Report. FMI's forecast for total construction put in place in 2012 is a 5 percent increase compared to 2011, or $826.3 billion. The last time construction put in place was at this level was 2000-2001.

Economic Indicators:
Despite slow growth projections and rising gasoline prices, the GDP is still growing and consumers are still spending, reflected in the Conference Board's Consumer Confidence Index increasing to 70.8 in February compared to 70.4 a year ago. Along with the Federal Reserve's intervention, these factors have served to keep growth slow and inflation in check.

Residential Construction:
In order for residential construction to achieve the 8 percent increase projected and top $264.4 billion in 2012, a number of factors still have to fall into place:

  • Reduction in the current inventory of homes
  • Lenders willing to lend on reasonable terms
  • Steady improvement in hiring

Nonresidential Construction:
Projections indicate a 4 percent increase in nonresidential buildings for 2012, topping $341 billion, with slightly higher growth in 2013 to $361 billion. Nonresidential contractors are facing many of the same problems as residential contractors. In addition, competition is fierce, with low price still the name of the game. Project owners who are ready to restart their building programs are expecting hungry contractors to submit very low bids. One of the keys for growth will be the return of private investment in construction. Additionally, federal, state and local government construction have been dialed back until budgets are in better repair and tax revenues return to levels that are more normal. Research indicates that there are signs this is starting to happen.

Four Different Types of Natural Stone Used For Masonry

Natural stone has been a staple in masonry for centuries. Before it was used to transform home and landscape designs on residential properties, it was used for historical buildings and some of the most iconic destinations in the world.

Advice to the Beginners

The best advice I could give anyone that is starting a career in masonry is that first and foremost, you must "know" yourself. What do you like to do? What would you like in a working environment? Do you like to be outside? Do you enjoy physical activity

About: Featured
Masonry Safety Inspections

The look of confusion and utter loss on people’s faces when I tell them that I’m a safety inspector for a masonry company is often hilarious.

About: Safety
Dave Jollay Announced as Third Inductee for MCAA 2024 Hall of Fame

Following in the footsteps of his father, O.L. Jollay, the founder of Jollay Masonry, Inc., Dave Jollay has carved out a remarkable career in the masonry industry.