Construction Economy Outlook Spring 2026

This document is a guide detailing the Construction Economy Outlook for Spring 2026. It outlines the current state of the U.S. construction industry, highlighting challenges such as labor market pressures, material cost increases, and economic forecasts. The guide presents insights into the cyclical, structural, and political shifts affecting construction, including the impact of rising oil prices on construction costs and the overall economic environment. It discusses the expected slow growth in construction spending, particularly in nonresidential sectors, and identifies which building categories and regions may experience growth or downturns. The document also addresses employment trends, noting increases in nonresidential jobs while residential employment declines. Additionally, it emphasizes the uneven job growth across states and provides a detailed analysis of spending trends in various construction segments, including the influence of tariffs on material costs. The guide serves as a resource for industry professionals to understand the economic landscape affecting construction.