Construction and the Economy Amid Tariff Shifts

With Q1 2025 officially behind us, the latest Construction Economic Report offers insights, data and context to help guide your business decisions in the coming months. With key trends and data directly impacting the construction industry, this tool will help you stay ahead and informed.

The Q1 2025 report delivers a comprehensive overview of the economic landscape. Highlights include:

  • Adjusted Q1 GDP shows slight growth (0.4%-0.8%), but manufacturing and consumer activity are showing early signs of stress due to tariff-related disruptions and cautious spending.
  • Nonresidential construction remains strong and continues to grow moderately (3.4%), but residential construction is softening due to elevated inventory, labor concerns and regional government job cuts.
  • Construction material prices remain volatile amid ongoing tariff uncertainty. Some raw materials, including nickel and steel, are down year-over-year, while others, like copper, are surging (+24.9% year-over-year) due to rising demand and unclear tariff impacts. Additionally, shipping costs are rising as businesses stockpile ahead of potential tariff shifts.

Download the full report to learn more.