Today's Construction Economy Report - Q1 2024

In the first quarter of 2024 the U.S. construction market has continued to reflect strong fundamentals with some indicators softening. Labor demand and wages continue to steadily climb as projects continue to outpace supply. Material price and availability are little changed, though specialty products remain difficult to source. Machine demand is elevated but volatile, ultimately remaining above the four-year average. Though market conditions continue to be upbeat, there are signs of headwinds from the Fed’s rate expectations, and a rumbling geopolitical backdrop increases project risk. Still, the tailwind of planned spend for 2024 outweighs those risks for now. Our focus continues to be on the primary drivers of selling price to Owners.

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