Executive Industry Trends
During Q2 2025, real GDP rose 0.73%, rebounding after the first quarterly decrease since the beginning of 2022. This was driven by a reduction in imports in the face of tariff pressures, which were partially offset by decreases in investments and exports.
Industrial output maintained its high level as the Industrial Production Index grew 0.33% on a quarterly basis and 0.73% Y-o-Y, reaching its highest level since December 2018.
Concrete prices grew at a steady rate over the past year, lumber prices experienced a significant drop in Q2 2025, and steel prices soared in the second quarter due to industry effects from tariffs.
The Trump Administration’s “Liberation Day” tariffs took effect early in the quarter, leading to an immediate sell-off in the market. However, major indexes recovered quickly. Trade policy is in a state of limbo as the administration continues to negotiate terms with trading partners.
IN THIS ISSUE
Construction Overview
GDP
Unemployment
Value Put-In-Place
10-Year Yield and Real Broad Dollar Index
Sector Focus
Building Materials
Government Consumption and Investment
Industrial Production Index and Commodity Input Price Index
Sector Roundup
Non-Residential Construction
Roads, Highways, and Bridges
Residential Construction