Articles Tagged with ''economic outlook''

U.S. construction employment rose by 17,000 jobs in May, driven by demand for nonresidential projects such as data centers, though economists say future gains could be hampered by policy risks and economic headwinds.

Daikin says with inverter adoption expanding, heat pumps gaining share, and data center cooling expected to triple by 2030, the shifts could reshape how contractors plan for future installs and training. 

Construction employment jumped in January, yet industry leaders warn that future growth relies on stable investment and policy support.

While margins are compressed and contractors are still chasing fewer projects, there’s hope that long-stalled developments are finally moving forward.

The bottom line from AGC's chief executive: “Contractors can manage modest cost increases, but they need a predictable environment to keep projects moving."

The Federal Reserve’s rate cut and new policy stance bring both relief and fresh challenges for HVAC and sheet metal firms navigating surging tariffs, shifting demand, and economic uncertainty.

Spending on data centers is set to eclipse new office construction for the first time, fueling a building frenzy that’s sending ripples through the U.S. economy, reshaping job sites, and driving power bills sharply higher from New Hampshire to Illinois.

Almost two-thirds of commercial contracting executives reported stable or growing revenue at their companies, and 53% said they were optimistic about the market going forward. The survey also looked at market headwinds. 

Despite headline job growth, deeper data and industry voices reveal mounting uncertainty and a slowdown in construction hiring, prompting leaders like Johns Manville CEO Bob Wamboldt to focus on adaptability and preparation.

The HVAC industry faces a pivotal year in 2025, balancing challenges like inflation and the refrigerant transition with opportunities from IRA incentives and decarbonization efforts.