Today’s Construction Economy Report – Q1 2025

The Q1 2025 Today’s Construction Economy report analyzes key trends affecting the U.S. nonresidential construction sector, highlighting slowing spending growth, shifting labor dynamics, and emerging cost risks. While spending remains high, growth softened toward the end of 2024. Labor demand declined, yet skill shortages persist, impacting project timelines. Material and equipment orders also fell, with year-over-year declines in equipment purchases. Additional risks stem from tariffs and reduced immigration, which could further elevate construction costs. Despite these challenges, the MSI Economics forecast reflects the sector’s resilience while acknowledging significant cost pressures and uncertainties in 2025.

Download our Q1 Construction Economy Report and get all the details from MOCA Construction Economist, Brandon Michalski.

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About Today’s Construction Economy Report

Prepared by MOCA Systems, Inc.’s Principal Construction Economist, Brandon Michalski, Today’s Construction Economy is a quarterly must-read for industry leaders seeking comprehensive, data-driven analysis for the nonresidential construction sector.

This in-depth report synthesizes insights from hundreds of trusted sources, including news, analytics, and industry experts, to provide timely, actionable intelligence to thousands of construction professionals. By integrating hard economic data with expert commentary, Today’s Construction Economy offers clear, informed analysis to help stakeholders navigate market shifts, anticipate trends, and make confident strategic decisions.

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Meet the Author

Brandon Michalski

Principal, Construction Economist

Brandon Michalski is the lead economist for MOCA Systems, Inc., a leading owner’s representative firm providing program and project management services. Brandon’s decade in the mining and heavy construction industries provides a foundation for subject matter expertise. He holds a Master of Science in Applied Economics from Johns Hopkins University in Baltimore, MD as well as a Bachelor’s Degrees in both Mining Engineering and Biology from West Virginia University in Morgantown, WV. Brandon currently lives in Chicago, Illinois with his family and enjoys hiking and camping.