Interest rates fall, the election is over and contractors are cautiously optimistic. However, the latest construction data painted a mixed picture, with some indicators rising while others stagnated or reversed course.
Nonresidential planning activity, an indicator of future work, slowed again as data center activity normalized, according to the latest data released in November. Despite this cooling, contractor confidence in sales and staff improved, showing optimism for the coming months.
The beginnings of construction also reflected this optimism. According to the latest data, new developments rose, even as hurricane disruptions dampened spending in key public and private sectors.
However, input costs for non-residential construction also rose, driven by higher energy costs, although they remain below last year’s levels by 0.5%, the Bureau said of US Labor Statistics. Open construction jobs declined again, indicating a measured approach as developers and contractors continue to assess economic conditions after the election.
Here, Construction Dive collects the latest key industry data.
