FMI Releases 2024 North American Engineering and Construction Outlook: Third Quarter

FMI recently released its 2024 North American Engineering and Construction Outlook: Third Quarter.

According to the report, total construction spending is expected to reach $2 trillion in 2024, a 5% increase over 2023. However, this signals a slowing growth trend, with future increases likely to stabilize from 3% to 5% over the next five years.

Despite this flat forecast, the size presents vast opportunities. The challenge will be finding ways to create growth in flat markets. Understanding the geographies and segments in this rapidly evolving environment will help you position your company for success.

Watch Jay Bowman’s video for his insights on how geography and other factors are shifting the landscape.