FMI Forecasts 6 Percent Growth in Construction for 2016
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FMI Forecasts 6 Percent Growth in Construction for 2016

RALEIGH, N.C., April 12, 2016 — (PRNewswire) —

RALEIGH, N.C., April 12, 2016 /PRNewswire-iReach/ -- FMI reports that construction put in place will slow to a 6% growth rate in 2016. Construction added 11% growth in 2015 to reach nearly $1.1 billion in construction put in place. In current dollars, that is the highest total since 2008 and the highest growth rate since 2005. Signs that the rate of growth for the industry is slowing reduced the forecast for 2016; however, construction put in place will reach $1.6 billion.

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Construction will continue on a growth track largely due to improving consumer economic and physical health and a growing population demanding new technologies and housing. Those consumers, especially

younger consumers, aka millennials, are also highly mobile and gravitating most often toward larger cities for jobs and entertainment. With all the good news for construction markets, FMI notes that it must also echo the sentiments of the Federal Reserve and say: "Global economic and financial developments continue to pose risks," In conclusion, FMI recommends cautious optimism for 2016.

Forecasts for some key sectors:

Founded in 1953 by Dr. Emol A. Fails, FMI is the leading management consulting, investment banking and people development firm dedicated exclusively to the engineering and construction industry. FMI professionals serve all sectors of the industry and combine 60+ years of industry context and leading insights to achieve transformational outcomes for our clients.

FMI has subject matter experts in the following practice areas and serves clients through the U.S., Canada and Internationally:

Management Consulting

Investment Banking

Leader Development

For more information, please visit Follow FMI on LinkedIn.

Media Contact: Rebecca Esler, FMI Corporation, 919-785-9209, Email Contact

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SOURCE FMI Corporation

FMI Corporation