New industry outlook shows firms are worried about impacts of President-Elect Trump’s trade and immigration policies even as they increase investments in artificial intelligence and other technologies to boost productivity.

Construction contractors are optimistic about certain private-sector segments and have high hopes for most types of public-sector work, according to survey results from the Associated General Contractors of America and Sage. Yet they have very low expectations for several private-sector market segments, remain concerned about labor shortages and are worried materials prices will climb amid threats of new tariffs, according to A Year in the Balance: The 2025 Construction Hiring and Business Outlook.

“2025 offers quite a few bright spots for the construction industry even as the outlook for some private-sector segments remains quite dire,” said Jeffrey Shoaf, the association’s chief executive officer. “Firms expect regulatory relief will help drive demand and they will continue to hire, when they can, and boost investments in technologies, particularly artificial intelligence.” Click here to watch a quick video about the results.

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