Report Estimates 5% Increase in Total Construction for 2001

FMI, Raleigh, N.C., released its “Construction Outlook — First Quarter 2001 Report,” a quarterly look at the economic health and future of the construction industry. The outlook provides insight into the current residential, nonresidential, and nonbuilding structure sectors of the construction industry, as well as a five-year look into the future.

FMI estimates that total construction put in place will increase 5% in 2001, as compared to 6% in 2000. It also predicts single-family housing starts will drop 5% in 2001 to 1.21 million. Due to an increase in the value per start and mild inflation of the dollar, single-family housing construction will increase 2%, or $5 billion, from 2000 levels.