Economic conditions in the construction sector across the Ninth Federal Reserve District have shown mixed trends, with residential building activity slowing due to higher borrowing costs and labor shortages, while non-residential construction remains steady in certain areas. Commercial development continues in energy and logistics hubs, supported by ongoing investment in infrastructure. However, local contractors report challenges in material supply chains and rising input prices, which are constraining project timelines. The Federal Reserve Bank of Minneapolis continues to monitor regional indicators to assess broader implications for economic growth.
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Regional Economic Conditions: Construction Federal Reserve Bank of Minneapolis