RALEIGH, N.C. - FMI, management consultants and investment bankers to the building and construction industry, announces its Second Quarter 2008 Construction Outlook is now available. The Construction Outlook, a quarterly construction market forecast developed by FMI’s Research Services Group, indicates construction for 2008 remains much the same, but the outlook for 2009 has been revised down slightly because a downturn in nonresidential construction usually lags a slow down in the general economy.

The Construction Outlook also reports that water is an important concern in our nation. Aging infrastructure, population growth and net migration are fueling demand for new and replacement construction especially in the Sunbelt and Rustbelt regions. Water supply and sewage and waste disposal construction will increase by 2 percent and 3 percent in 2008 and by 2 percent and 4 percent in 2009 despite a decrease in state and federal revenues. Total construction in 2008 and 2009 will be down 4 percent and 1 percent based upon large decreases in residential construction that will not be offset by gains in nonresidential and nonbuilding construction. The decline in 2009 will be driven by a decrease in nonresidential construction for the first time since 2003. For more information, call Kathryn Robinson at 919-785-9211or krobinson@fminet.