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ENR 2025 Fourth Quarterly Cost Report

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December 23, 2025

ENR 2025 Fourth Quarterly Cost ReportDecember 23, 2025Collage illustration by Scott Hilling/ENR

Collage illustration by Scott Hilling/ENR, original hands holding geometric shapes, corner circular rainbow, globe held in hands, dollar sign, geometric lines and arcs on a globe, flight plan chart, video game controller and globe all by Getty Images/CSA-Printstock, thin arrows in red and black original artwork by Getty Images/Deagreez

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ENR 2025 Fourth Quarterly Cost Report

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ENR 2025 4Q Cost Report (PDF)
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Data center construction continues to rise, accounting for a large amount of work in the past year.

Economists expect the industry’s current challenges to continue as planning stages lengthen amid tariff confusion.

The fourth quarterly cost report takes a closer look at these issues alongside the general economic outlook, equipment prices and the international economic climate.

In the quarterly confidence index, survey data shows that confidence among executives is up, despite growing challenges.

Confidence Index

4Q Cost Report

Construction Execs Report Increased Optimism for 2026

Expectation of lower project costs a primary driver

Economics

Economics

Data Centers, Multifamily Lead Modest Growth

Tariffs and other ongoing challenges remain

Equipment

EquipmentWatch

Steady Slide in Used Machine Prices at Resale and Auction Closes Out the Year

Industry analysts expect trend in softening prices to continue into 2026

International

International

Construction in 2026: Managing Risk, Building Momentum

A look at global trends in the coming year

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