What We Learned in September: Construction Industry Begins to Contract
The construction industry continues to struggle in the face of an array of headwinds including trade and immigration policy, high borrowing costs and extraordinarily elevated economic uncertainty. A range of indicators now suggest that the industry is shrinking for the first time since the beginning of the COVID-19 pandemic.

Nonresidential Construction Spending Slides
Nonresidential construction spending fell again in July and, having now declined in seven of the previous nine months, is 2.5% below December 2023’s all-time high. Private nonresidential activity has contracted at an even faster pace, and with the exception of data centers, religious buildings and the power category, no private subsegment has retained momentum through the first half of 2025.

Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.