Total U.S. construction starts, encompassing nonresidential building, civil construction, and residential construction, declined by 18.6% year-over-year (YoY) in the fourth quarter of 2024, according to a new analysis released by ConstructConnect. All three construction segments experienced contractions YoY, contributing to a full-year decline of 3.5% compared to 2023.Despite the quarterly downturn, civil construction emerged as a strong performer for 2024, expanding by 12.1%. However, spending on megaprojects also fell in the fourth quarter, continuing a downward trend from the previous quarter and the same period last year.Forecasting 2025, the analysis notes that total U.S. construction starts are expected to grow by 5.2% this year. The positive economic outlook, continued government spending, and falling interest rates should support growth across all sectors, the analysis reads, pointing to a projected 2025 growth in the wider U.S. economy of 2.4%.Image credit: ConstructCo...