Non-residential put-in-place is projected to decline 4% in 2020, and a 9.3% decrease is in store for next year. Jay Bowman, principal at FMI, says that while the economy will strengthen in 2021, construction spending tends to lag by one-and-a-half to two years.

Is the construction industry slowing down?

After 18 months of decline, single family residential (SFR) starts turned positive at 31% above one year earlier in the six-month phase ending June 2021. Multi-family construction experienced a 9% decrease in 2020 from the prior year, with 47,000 new units started. ...

How is the construction industry doing 2021?

The construction industry in the United States is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 4.7% during 2021-2025. The construction output in the country is expected to reach US$ 1819106.1 million by 2025.