Dive Brief:

• Construction industry executives expect nonresidential work to grow this year, with the vast majority on a panel assembled by consultant FMI saying they see a rise of as much as 5%.
• The Nonresidential Construction Index compiled from the panelists' answers stands at 64.9 for the current quarter, up 6.8 points from a year ago and reversing a decline in the last quarter of 2013.
• The growth will likely produce hiring in the industry, though most participants plan to hold off on adding people until business demands it.

Dive Insight:

Thirty-five percent of the panel members told FMI that they will start hiring salaried staff only when their people are consistently over capacity. The component of the index that measures feelings about the overall economy is at 79.8 this quarter, and the component reflecting feelings about each panelist's local market is at 77. "Looks like most of our panelists woke up on the right side of the economy this quarter," FMI stated.