Dive Brief:

• Construction activity will grow by a modest 5% by the end of the year, management consulting and investment banking firm FMI has predicted.

• Manufacturing construction will grow more rapidly than other sectors this year — by 17% — but could slow down in 2016 and 2017, FMI's Q2 Construction Outlook said. The bleakest outlook is for the power sector, which could face a 5% cut this year.

• Commercial construction is expected to grow at a pace of 13% before slowing next year. Building in the amusement/recreation and office sectors is expected to be positive throughout the year, and residential building could see “solid growth” of 8% for 2015, the report said.

Dive Insight:

Overall, the report predicted 2015 will deliver the highest total for construction put in place since 2008. In the first quarter of 2015, however, FMI offered a brighter outlook, forecasting 8% growth across sectors.

Chris Daum, FMI’s senior managing director, noted any growth is a positive sign. “Construction spending continues to build on the rapid growth experienced in the industry last year,” he said in a release.