Interest rates are falling, the election is over and contractors are cautiously optimistic. Yet, the latest construction data painted a mixed picture, with some indicators surging forward while others stalled or reversed course.
Nonresidential planning activity, a gauge of future work, slowed again as data center activity normalized, according to the latest data released in November. Despite this cooling off, contractor confidence in sales and staffing improved, showing optimism for the months ahead.
Construction starts also reflected that optimism. Groundbreakings ticked up according to the latest data, even as hurricane disruptions dampened spending in key public and private sectors.
However, input costs for nonresidential construction jumped too, driven by higher energy costs, though they remain below last year’s levels by 0.5%, according to the U.S. Bureau of Labor Statistics. Open construction jobs declined once again, signaling a measured approach as developers and contractors continue to evaluate economic conditions post-election.
Here, Construction Dive rounds up the latest key industry data.