Construction spending across the U.S. slowed in the second half of 2025, but costs remain elevated and uneven across regions, according to Turner & Townsend’s H2 2025 US market intelligence report. While economic growth cooled and private construction pulled back, federally backed infrastructure, data centers and trade driven supply chain shifts are keeping bid price escalation above historical norms — particularly in Phoenix, Arizona; Dallas Fort Worth, Texas and San Francisco, California, which rank highest nationally for cost escalation pressure. Key report findings 1.4% quarterly GDP growth as of Q4 2025 (annual rate) -0.36% quarter on year construction spending growth … Read more