Executive Industry Trends
During Q4 2024, real GDP expanded, marking the eleventh consecutive quarterly increase following a downturn at the beginning of 2022. Construction GDP fell by 0.1% this quarter, compared to an increase of 0.6% for the broader economy.
Both the residential and non-residential building sectors have enjoyed strong years thus far, with Value Put-inPlace up 5.7% and 3.6% Y-o-Y, respectively, on a seasonally adjusted annual basis.
Non-residential construction has experienced strong tailwinds from elevated growth in corporate profits, though this has slowed during the fourth quarter of 2024.
The presence of a new presidential administration and policy will have a significant impact on the industry. The Trump administration has indicated plans to cut government spending, lower inflation and interest rates, and increase existing or levy new tariffs, all of which will have various impacts on industry input prices, borrowing costs, and competitiveness.
IN THIS ISSUE
Construction Overview
GDP
Unemployment
Value Put-In-Place
Sector Focus
Non-Residential Construction
10-Year Yields
Real Broad Index
Corporate Profits
Sector Roundup
Residential Construction
Building Materials
Roads, Highways, and Bridges