Construction

Economic Overview

Executive Summary

This report provides a concise view of the construction economy by reviewing current market conditions and forward‑looking indicators. Current conditions are assessed through construction spending, employment trends, and material costs, while future momentum is evaluated through backlog and ConstructConnect’s Project Stress Index. Together, these measures help show where activity is strengthening, where pressure remains, and how risk may shift across project types.

Overall construction spending remains relatively steady, but performance varies by segment. Residential spending has improved modestly, while nonresidential spending remains flat as infrastructure, data centers, utilities and selected institutional categories offset weaker manufacturing activity. Contractors, owners, and developers may experience the market very differently depending on sector focus, project mix and geography.