AI Product & Business StrategyConstruction DivenotableSep 2, 2026
Take data centers out and US nonresidential construction spending sits at a three-year low
Census Bureau figures released September 1 put total construction spending in July at a $2.17 trillion seasonally adjusted annual rate, down 0.5% month over month, with private nonresidential up 0.4%.
The AI build-out is now the only thing holding up an entire category of construction demand — an opening if you sell into it, a concentration risk if you depend on it.