Dive Brief:

• FMI, the Raleigh, NC-based provider of investment banking and data research for engineering and construction, says in its latest quarterly forecast that it remains cautiously optimistic about the construction industry — but a little more cautious and a little less optimistic than it had been previously.
• In residential, the forecasters are scaling back their growth prediction for this year from 18% to 12%, putting them on the same mark as the National Association of Home Builders.
• In non-residential, FMI says it sees opportunities in pent-up demand in the education and health care sectors if political issues can be resolved and in infrastructure if funding can be smoothed out.

Dive Insight:

Overall, FMI sees construction put in place winding up this year with about a 7% increase and matching that for the next few years. According to FMI, "Despite all odds and nasty economic weather, the nation needs to grow, and that means more construction projects."