FMI: Nonresidential construction index remains constant
FMI's 2013 Third Quarter Nonresidential Construction Index showed a 0.2-point increase to 60.3, showing continuing sustainability and consistency in the industry.
FMI announced the release of the 2013 Third Quarter Nonresidential Construction Index report. The NRCI score of 60.3 is a 0.2-point improvement over Q2.
Although the numbers aren’t drastically rising, the sustainability and continuing upward movement is encouraging. This score remains the highest score for the NRCI index since Q1 2009. The index for the overall economy rose to 72 points and the combined index sentiment for economies where panelists are doing business rose 3.2 points.
Cost of construction materials, cost of labor, and productivity continue to hold down the index. Additionally, investments in technology, equipment, and training are needed to keep the economy from going stagnant.
Panelists for this quarter’s NRCI suggest that the uncertainty for investments is a result of the immigration/labor bills, delays in implementation of “Obamacare” and the impact of residential growth on nonresidential construction. These issues are causing the industry to sit back and wait to see the outcomes before making any risky investments.
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Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.