US Construction Economists Forecast Malaise; Power Projects, Data Centers To Defy the Trend

November 21, 2025

U.S. construction economists are forecasting stalled growth in the sector in the medium term with a growing risk of decline, but selective subsectors are expected to buck the trend.

Total construction spending was down three percent from July 2024 to July 2025, and higher tariffs have raised some costs and caused owners to put a hold on projects, the experts reported during a recent webinar. The exceptions include data centers, power, airports and niches in health care and distribution.

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