Construction health is back in the spotlight as long-delayed data begins to flow after the late-2025 government shutdown.
Construction planning activity increased in December, reflecting the year’s theme of data center and infrastructure growth. Contractors reported strong pipelines into 2026, and projects appear to be moving through the planning stages faster than in early 2025. This is a positive sign of sustained momentum this year.
But builders say the force is highly concentrated. Portfolio gains, for example, increasingly favor large contractors with more than $100 million in revenue. A closer look at these numbers shows a decline in backlogs for smaller contractors across the country.
Still, it will take more negative news to dent the optimism. Project stress among contractors eased sharply in December to end a year marked by tariffs and a government shutdown. These pressures, however, have reopened some concerns in the industry about rising material prices in 2026.
Most economists expect trade policy to return to being a top priority over the next 12 months. If the tariffs persist, the recent upward trend in non-residential input prices could be just the beginning.
Here, Construction Dive collects the latest economic data for builders.
