The US construction output is expected to decline steadily from 2024 to 2028, starting at a growth rate of 4.13% and decreasing to 3.86% by 2028. This trend indicates a gradual slowdown in the sector over the forecasted years. As of 2023, the construction output's growth stood at 4.20%, highlighting a consistent downward trajectory year-on-year. The compound annual growth rate (CAGR) over the five years is negative, reinforcing the persistent decline in growth rates.
Future trends to watch for include:
- Impact of economic policies on infrastructure spending.
- Technological advancements and their potential to boost productivity.
- Environmental regulations driving changes in construction practices.
- Shifts in workforce demographics and skill availability.
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