A smaller group of projects did most of the construction work in March.
Data centers drove planning almost single-handedly during the month. Contractors with these types of AI infrastructure jobs also report considerable interest in surrounding energy construction. Three megaprojects in the electric power and utilities segment, for example, helped drive an increase in total construction starts in March.
But for contractors outside of building AI, progress is flatter.
Construction spending fell again in the more traditional sectors. Hiring in the construction sector barely budged during the month. The project owners as a whole delayed further work, especially for private commercial construction.
At the time, oil prices rose significantly due to tensions in Iran. The shock has so far, however, done little to affect backlog figures for public builders or confidence readings, despite warnings from economists about potential impacts.
Read on for construction insights on the latest economic data.
